Jacobi Asset Management is going to launch a European spotbitcoinETF in July. The exchange-traded fund will be named the JacobiBitcoinETF and will be listed on Euronext Amerstdam.
European institutional and professional investors will be able to invest inBitcoin via theETF for a 1.5% annual management fee under the ticket BCOIN.
Jacobi Asset Management was founded in 2021 and is led by CEO Jamie Khurshid, a former Goldman Sachs investment banker. The firm has a history of digital asset management and a team of technology, investment, and regulatory experts.
The investor can access the underlying performance of this exciting asset class via a well-established and trusted investment structure, according to Khurshid. Jacobi wants to make digital asset investments simpler for institutional and professional investors. Fidelity Digital Assets and Flow Traders are reportedly an integral part of the fund, according to Jacobi.
Edd Carlton, an Institutional Digital Asset Trader at Flow Traders, stated that the listing of a spotBitcoin ETF aligned with the growing demand from institutional investors. The calls for a spotETF in the US have been made for years.
The only spot ETFs to be launched are in Canada, Brazil, and Jersey, which are much smaller than most US-based ETFs. JacobiBitcoin ETF is set to be the biggest spotETF in the world, built on spot ETFs in smaller markets.
European investors do not have the same variety of ETFs as US investors; just 15 and 20 per cent of retail investors in Europe use ETFs compared to 40 per cent of their US counterparts. There is a lower trading volume of ETFs in Europe, with the European Commission considering removing them from a consolidated tape.
Pension funds, mutual funds, and insurance companies can be given a pathway intoBitcoin that was not currently available because of the move to allow a spotBitcoinETF in Europe. There is a chance that a spotBitcoinETF will be very popular in Europe, given the lack of alternative options for Bitcoin investments through traditional means.