Jacobi Asset Management Introduces Europe’s First Spot Bitcoin ETF
Jacobi Asset Management has achieved a significant milestone by introducing Europe’s first spot Bitcoin ETF on Euronext Amsterdam. This ETF is groundbreaking for its pioneering status and its commitment to environmental, social, and governance (ESG) standards.
Key Points:
- The ETF is the first decarbonized digital asset fund aligned with SFDR Article 8.
- It integrates a Renewable Energy Certificate (REC) solution to meet ESG targets.
- The ETF is regulated by the Guernsey Financial Services Commission.
- Fidelity Digital AssetsSM is the custodian, and Flow Traders serves as market makers.
- Jane Street and DRW are the Authorized Participants.
Martin Bednall, the CEO of Jacobi Asset Management, expressed enthusiasm for Europe’s approach in facilitating institutional Bitcoin investments through familiar and regulated structures like ETFs. He emphasized the uniqueness of their fund, which directly owns the underlying asset, and highlighted Jacobi’s dedication to offering an eco-conscious solution for European investors.
Jacobi’s ETF Offers Enhanced Investor Protection
Jacobi’s ETF is open-ended, providing enhanced investor protection compared to exchange-traded notes (ETNs). ETF shareholders own a piece of the fund’s underlying assets, while ETN investors hold a debt-security. Bednall emphasized the approved and monitored nature of ETFs, reducing the risk of market manipulation compared to ETNs.
Mark Makepeace, the CEO of Wilshire Indexes, expressed excitement about partnering with Jacobi and views the launch of the Jacobi FT Wilshire Bitcoin ETF as transformative for the global financial landscape. The ETF’s design caters to ESG-focused investors, allowing them to independently verify the environmental claims associated with Bitcoin in their portfolios.
Jacobi’s ESG-aligned Approach and Collaboration with Zumo
Jacobi incorporates a unique approach to ESG by assessing electricity consumption associated with Bitcoin in the ETF and purchasing equivalent RECs. Kirsteen Harrison, Zumo’s Environmental Manager, emphasized the need to decarbonize the crypto sector and the collaboration with Jacobi to develop an ESG-aligned solution.
Hot Take
Jacobi Asset Management’s introduction of Europe’s first spot Bitcoin ETF showcases their commitment to both innovation and sustainability. By aligning with ESG standards and integrating a REC solution, Jacobi provides institutional investors with a pioneering and eco-conscious way to invest in Bitcoin. The ETF’s open-ended nature and the absence of leverage or derivatives reduce the risk of market manipulation, providing enhanced investor protection. This groundbreaking ETF not only sets a new standard for the crypto-backed financial instruments in Europe but also contributes to the decarbonization of the crypto sector.
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