In July, the new Bitcoin (BTC) from Jacobi Asset Management will begin trading under the BCOIN ticker on the Euronext Amsterdam Exchange.
Euronext Amsterdam, a big Dutch Stock Exchange is introducing its first ETF (Exchange-traded Fund) based on BTC.
Thursday came the news of the new Jacobi BTC ETF by the London-origin crypto asset management platform.
Europe’s First Spot BTC ETF
According to Jamie Khurshid, CEO and Founder of Jacobi, the new Jacobi ETF is the first of its kind in Europe.
In addition, Khurshid added that the fund cannot leverage, stake or lend any assets owned by it. This is the first instance where investors of ETF Bitcoins will be the owners of the units that own the BTC. He continued claiming that while other exchange-related assets exist in the market, the Jacobi ETF is the first spot BTC ETF.
BCOIN to Debut on Euronext
A spokesperson working with Euronext confirmed that BCOIN is indeed the first spot BTC ETF to ever be listed on the Euronext platform. Every other product currently existing on their platform is an exchange-traded note. This means they have been legally structured as instruments of debt. ETF will appear on the charts in July, but a precise date is yet to be revealed.
Fidelity Digital Assets, the crypto arm of Fidelity, will provide the custodial service for the new BTC ETF. While to facilitate trading and serve as market makers, DRW and Flow Traders will be chipping in. The ETF can be obtained for an annual management fee of 1.5%