Jacobi to launch Bitcoin ETF in July

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Jacobi to launch Bitcoin ETF in July

The company said that its JacobiBitcoinETF would start trading on Euronext Amsterdam in July under the symbol 'BCOIN'.

Jacobi's BitcoinsETF will allow investors to access the underlying performance of the exciting asset class via a well-established and trusted investment structure, said Jamie Khurshid, a former Goldman Sachs banker.

The price ofBitcoin fell to as low as $17,592 earlier this month. It dropped below $20,000 for the first time since December 2020.

The largest digital currency,Bitcoin, has dropped about 70% from its high of $69,000 in November.

Other cryptocurrencies have plunged in recent months as investors dump assets that are considered high riskier in favor of safe-haven assets such as gold in response to rising inflation and tighter monetary policies by major central banks.

The proposal to list a spotBitcoin exchange-traded fund ETF was rejected by the US securities regulators earlier this month, and ProShares announced plans to launch an ETF aimed at'shorting'Cryptocurrencies, namely betting on a future fall in its value.