2023-08-16 17:31:35
After more than a year of delay, the first European spot Bitcoin ETF has finally been launched. According to Jacobi, institutional decision-makers will thus be able to enter the BTC ecosystem without having to give up their ESG goals. While the SEC continues to reject or delay the issuance of spot Bitcoin ETFs in America, the first such product has finally seen the light of day in Europe. The financial instrument named Jacobi FT Wilshire Bitcoin ETF complies with Article 8 of the SFDR through its decarbonization strategy. The August 15th press release reporting on the launch of the product reveals that the Bitcoin ETF, a joint child of Jacobi Asset Management and Wilshire Indexes, runs under the symbol BCOIN and is already listed on Euronext Amsterdam. Jacobi said it has implemented a verifiable, built-in Renewable Energy Certificate (REC) solution that allows institutional investors to access the benefits of Bitcoin while meeting their ESG goals. The ETF is regulated by the Guernsey Financial Services Commission (GFSC) and custodian is Fidelity Digital Assets. Flow Traders will act as market maker, with Jane Street and DRW as authorized participants. Wilshire Indexes CEO Mark Makepeace commented: “The launch of the Jacobi FT Wilshire Bitcoin ETF is an important milestone for the digital asset industry and revolutionary for the global financial industry. We are excited to partner with Jacobi, and as a leader in the development of institutional digital asset benchmarks, we are committed to accelerating the development of the entire digital asset ecosystem.” Spot Bitcoin ETFs have emerged in recent years in some countries, including Brazil and Canada, but the US Securities and Exchange Commission, the SEC, continues to reject all applications for such products. However, this may soon change as the world’s largest asset manager, BlackRock, also filed for a Bitcoin ETF in mid-June.
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