CDS Crypto News Europe’s First Bitcoin ETF to Debut on Euronext Amsterdam: A Milestone for Cryptocurrency Industry
Crypto News

Europe’s First Bitcoin ETF to Debut on Euronext Amsterdam: A Milestone for Cryptocurrency Industry

In what is being hailed as a major breakthrough for the cryptocurrency industry, Europe's first Bitcoin Exchange-Traded Fund (ETF) is slated to be publicly listed this month, as reported by the Financial Times.

657
Europe'S First Bitcoin Etf To Debut On Euronext Amsterdam: A Milestone For Cryptocurrency Industry

Europe’s First Bitcoin ETF to Debut on Euronext Amsterdam: A Milestone for Cryptocurrency Industry

In what is being hailed as a major breakthrough for the cryptocurrency industry, Europe’s first Bitcoin Exchange-Traded Fund (ETF) is slated to be publicly listed this month, as reported by the Financial Times.

The much-anticipated ETF is being spearheaded by Jacobi Asset Management, which had initially unveiled plans to introduce the Bitcoin ETF on Euronext Amsterdam in July 2022. However, owing to apprehensions regarding market timing, the launch had been postponed.

The delay was attributed to prevailing sentiments last year, which deemed the timing unfavorable due to notable events such as the Terra Luna May 2022 crypto crash and the November FTX crypto exchange crash. In a cautious move, Jacobi Asset Management sought to ensure ideal market conditions for the ETF’s much-awaited debut.

Europe'S First Bitcoin Etf To Debut On Euronext Amsterdam: A Milestone For Cryptocurrency Industry

The announcement of the Jacobi Bitcoin ETF made waves across the financial landscape. This groundbreaking ETF secured regulatory approval from the Guernsey Financial Services Commission (GFSC) in October 2021, paving the way for its eventual launch. The ETF will bear the trading code BCOIN and find its listing on Euronext Amsterdam.

To guarantee seamless ETF operations, Jacobi Asset Management has forged partnerships with esteemed industry players. Fidelity Digital Assets will offer custody services, assuring the secure storage of the Bitcoin assets. In addition, Flow Traders and DRW have been carefully selected as market makers, entrusted with facilitating the ETF’s trading on the exchange.

The imminent launch of Europe’s first Bitcoin ETF signifies a momentous stride in the mainstream adoption of cryptocurrencies. ETFs present investors with a regulated and convenient avenue to gain exposure to Bitcoin’s price movements without directly owning the digital asset. The advent of such products opens doors for both institutional and retail investors to actively participate in the ever-growing cryptocurrency market.

As the Jacobi Bitcoin ETF launch date approaches, investors and market participants are eagerly awaiting its potential impact on the broader financial landscape. The ETF’s success and the response from investors will undoubtedly influence future developments in the cryptocurrency ETF space, further shaping the evolving regulatory environment surrounding digital assets.

Europe'S First Bitcoin Etf To Debut On Euronext Amsterdam: A Milestone For Cryptocurrency Industry
Sources:Coincu

1 Comment

Related Articles

Sui Blockchain Faces First Major Outage: What Happened and What’s Next

Sui blockchain faces its first major outage—learn what happened, the impact on...

MicroStrategy Stock Reaches New High as Bitcoin Surges Above $98,000

MicroStrategy’s stock surged to a new all-time high as Bitcoin reached $98,000,...

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Mysten Labs Resolves Sui Blockchain Outage, dApps Resume Functioning

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana Face Resistance

Top 3 Cryptos on November 21: Qubetics Soars as Ethereum and Solana...