- The Jacobi Bitcoin ETF will be Europe’s first spot bitcoin ETF listed on the Euronext Amsterdam exchange.
- The ETF will have a 1.5% annual management fee.
- Fidelity Digital Assets will act as Jacobi’s bitcoin custodian while Flow Traders and DRW will assist as market makers.
Jacobi Asset Management is launching Europe’s first spot bitcoin exchange-traded fund (ETF) through Euronext Amsterdam, the largest exchange holding a spot bitcoin ETF, according to a report from Jacobi Asset Management. Reuters.
The Jacobi Bitcoin ETF will have an annual management fee of 1.5% and furthermore, it will be a first for the Netherlands as this ETF will act as the first major listing of the digital asset fund.
Jamie Khurshid, CEO of Jacobi Asset Management, said: “The Jacobi Bitcoin ETF will allow investors to access the underlying performance of this exciting asset class through a trusted and regulated investment structure. well set up”. “Our goal at Jacobi is to make digital asset investments simpler and more familiar for institutional and professional investors.”
As a spot bitcoin ETF, the fund will hold bitcoin on balance and has partnered with Fidelity Digital AssetsSM to act as the fund custodian, while Flow Traders and DRW will facilitate the fund as generators. market making.
“We are delighted to serve as the leading market maker for Europe’s first Bitcoin ETF, which is an important milestone,” said Edd Carlton, digital asset trader at Flow Traders. another important role in the development of the institutional digital asset space”. “This also aligns with growing demand from institutional investors who are looking to diversify their portfolios by adding Bitcoin and other digital assets.”
The upcoming ETF reportedly received regulatory approval from the Guernsey Financial Services Commission (GFSC) in October 2021 and is set to begin trading in July on the Amsterdam exchange with BCOIN symbol.