Jacobi Asset Management, based in London (UK), has launched Europe's first ever spot Bitcoin ETF. The ETF, which trades under the ticker "BCOIN," began trading on the Euronext Amsterdam Exchange on August 15th.
The ETF’s launch comes amid growing demand globally from institutional investors for Bitcoin investment products. The launch of BCOIN suggests that Europe is ahead of the U.S. in terms of Bitcoin regulation, as, up to this point, the United States Securities and Exchange Commission (SEC) has not approved a spot Bitcoin ETF.
BCOIN is physically backed, so to speak, by Bitcoin. This is in contrast to exchange-traded notes (ETNs), another common investment offering in Europe, which are debt securities that track the price of Bitcoin.
BCOIN also claims to have a sustainability focus. The fund has partnered with a digital asset platform to implement a “Renewable Energy Certificate” program, which will supposedly allow investors to offset the carbon emissions of Bitcoin mining.
The launch of BCOIN is being viewed as a significant development for the Bitcoin community in Europe – it could help to boost institutional adoption of Bitcoin and pave the way for more regulated Bitcoin investment products and organizations to launch in the future.
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