While Bitcoin spot ETFs are rejected time and again in the United States, the Netherlands is getting one. This so-called “Jacobi Bitcoin ETF” will debut on the AEX next month under the ticker BCOIN.
Netherlands can do it
It has been less than a day since Grayscale’s bitcoin ETF was changed. The company had been trying to launch a bitcoin spot ETF in the United States since 2017. But apparently, it doesn’t have to be so difficult here. Jacobi Asset Management announced today that it is preparing to launch its Jacobi Bitcoin ETF (BCOIN).
In fact, this will be the first Bitcoin spot ETF to launch in Europe, so told Jamie Khurshid, the CEO of Jacobi Asset Management. The ETF – unlike future ETFs – will physically buy and manage bitcoin.
Europe’s first Bitcoin spot ETF
“Our product is the first physically backed Bitcoin fund, and the fund is not allowed to lend, deploy or leverage any of the assets it owns. For the first time in Europe, investors – who buy an exchange-traded bitcoin product – will own the units that own the bitcoin,” Khurshid said.
“There are other exchange-traded products in Europe, but no other spot BTC ETFs,” he added.
Dutch law firm provides legal support
The company that developed this ETF is based in London, but the legal support for the Bitcoin spot ETF comes from our own country. Law firm Kennedy Van der Laan of Amsterdam assisted Jacoby Asset Management with the regulatory and listing process, according to the article [email protected]on Businesswire.
Emanuel van Praag, a lawyer at the firm, told this article that “the first listed crypto ETF in the EU is a proud achievement. We are pleased to have been able to assist Jacobi Asset Management in achieving this goal,” said van Praag.
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