The long-awaited moment for cryptocurrency enthusiasts and investors on the Old Continent has finally arrived. Jacobi Asset Management is launching an innovative investment product that represents a breakthrough in the cryptocurrency sector. The EU’s first Spot Bitcoin ETF, named simply “BCOIN,” debuted on Euronext Amsterdam on August 15.
Spot Bitcoin ETF launched
Although the debut date was ultimately delayed by more than a year, the value of this launch is not lost. Europe can now boast of owning the first spot bitcoin ETF in history. The Jacobi FT Wilshire Bitcoin ETF not only opens up new investment prospects, but also demonstrates the region’s progressive approach to the cryptocurrency market.
The fund, which trades under the name “BCOIN,” is an innovative approach to investing in cryptocurrencies. It is the first spot ETF of its kind on the Old Continent. What does “spot” mean? It’s simply a physically-backed Bitcoin ETF that allows investors to benefit from exposure to Bitcoin’s price movements, without having to directly hold or store it. Still, the ETF is physically backed by BTC, making it a unique product in the market.
Bitcoin that cares about the environment
It is not only the product itself that is groundbreaking, but also its approach to sustainability. The asset management company emphasizes environmental and social friendliness. The Renewable Energy Certificate (REC) attached to the ETF demonstrates Bitcoin’s concern for ecology and energy potential.
The importance of the support that Fidelity Digital Assets brings to the operation of the BCOIN ETF cannot be overlooked. These efforts are aimed at providing trusted custodial mechanisms, which will greatly attract institutional investors seeking certainty and security in cryptocurrency investing.
Bitcoin in Europe is enjoying considerable success
Opening the door to such an innovative product is not only a huge step toward broad acceptance of cryptocurrencies in Europe, but also a signal to other regions to contemplate the future of finance in the spirit of openness and innovation. Jacobi CEO Martin Bednall stressed the importance of this moment for the future of cryptocurrency investment in Europe:
“This step ahead of the US in opening the door to Bitcoin investment by financial institutions shows that Europe has the potential to become a leader in this field. Our ETF provides secure access to the benefits of digital assets, based on proven structures and regulations.”
It should also be noted that Jacobi’s initiative is not the only change in the cryptocurrency landscape on the Old Continent. The debut of the Bitcoin Equities ETF in June 2023 by Melanion Capital, also on the Euronext Amsterdam exchange, adds echoes of modernity and a shift in thinking in the investment field. The product, while focusing on stocks of cryptocurrency-related companies, opens another door, allowing investors to gain exposure to the cryptocurrency market by investing in companies involved in the sector.
As a result, Europe is becoming an arena for innovative cryptocurrency investment products. Not only is their potential being recognized here, but steps are being made to provide safe, regulated and sustainable investment tools.
