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17. August 2023  • clock 3 min •  Daniel Mitrovsky

Europe Has the First Spot ETF!

While a spot BTC ETF in the United States is still under wraps and is unlikely to be approved during this year, investors in Europe are excited about the launch of the first spot ETF.

London-based Jacobi Asset Management has listed Europe’s first bitcoin spot exchange-traded fund (ETF) on Euronext Amsterdam almost two years after its initial approval.

The bitcoin ETF, called Jacobi FT Wilshere, is regulated by the Guernsey Financial Services Commission (GFSC) and trades under the ticker “BCOIN”. Fidelity Digital Assets manages the fund and funds, and trading firm Flow Traders acts as a so-called market maker (MM).

The Jacobi FT Wilshere Bitcoin ETF received approval for the first time back in October 2021 with plans to list in 2022. However, the firm decided to push back its plans due to the unfavorable situation in the cryptocurrency market, as 2022 was a very challenging year in the market and there were several unexpected events, including the collapse of the cryptocurrency Terra or the bankruptcy of the crypto exchange FTX.

While investors in Europe are celebrating the launch of a spot ETF, the eyes of the global market are still on the US. Giants such as BlackRock, Fidelity and Valkyrie have already filed their bitcoin ETF applications with the Securities and Exchange Commission (SEC). However, the US Securities and Exchange Commission (SEC) announced on Tuesday that it has postponed a decision on these applications until early 2024, which means we’ll have to wait at least a few more months for the first spot ETFs in the US.

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Daniel Mitrovsky


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