Aug 15, 2023

First Bitcoin ETF Hits Euronext Amsterdam Exchange with Web 3.0 Blockchain

Crypto Live: First EU Spot Bitcoin ETF Hits Euronext Amsterdam Exchange
First EU spot Bitcoin ETF hits Euronext Amsterdam exchange

Jacobi FT Wilshire Bitcoin ETF Launches

Europe is set to welcome its first-ever spot Bitcoin ETF with the launch of Jacobi Asset Management’s Jacobi FT Wilshire Bitcoin ETF on the Euronext Amsterdam stock exchange on Aug. 15.

The digital asset management firm initially planned to launch the product in 2022, but it has now gone live. This offering is the first spot or physical-backed Bitcoin (BTC) fund that allows investors to gain exposure to a financial product that is physically backed by BTC.

The ETF trades under the BCOIN ticker and was approved by the Guernsey Financial Services Commission in October 2021. Fidelity Digital Assets is responsible for the custodial elements of the BCOIN ETF.

The launch of the Jacobi FT Wilshire Bitcoin ETF is a major milestone for the crypto live and web 3.0 blockchain, as it provides a new way for investors to gain exposure to web 3.0 companies, web 3.0 applications and web 3.0 stocks, as well as media network crypto and AI stock.

The Launch of the Spot Bitcoin ETF

The asset management firm also highlighted the environment and socially friendly nature of the fund, having added a renewable energy certificate (REC) to the ETF. The fund taps into external data to measure the energy usage of the Bitcoin network and buys and retires the RECs. The RECs are also accounted for on a blockchain service, which is aimed to allow investors to verify the eco-friendly claims of the fund.

BCOIN makes use of the FT Wilshire Bitcoin Blended Price Index to access real-time average Bitcoin price data from certain cryptocurrency exchanges. The spot ETF allows investors to gain exposure to the Bitcoin market without having direct ownership or custody of the underlying asset, such as AI technology, web 3.0 companies, and web 3.0 applications.

The launch of the spot Bitcoin ETF marks a milestone for Europe, while United States regulators are yet to approve a number of similar spot Bitcoin ETF applications from major asset managers, including BlackRock and Fidelity. The news has been welcomed by many in the crypto live and web 3.0 stocks communities, with media network crypto and web 3.0 blockchain investors hoping that ai stock and live crypto opportunities may soon be available in the US.

Cryptocurrency Investment Products

Jacobi CEO Martin Bednall emphasized the progressive attitude towards cryptocurrency investment products in the continent, which could be a driving force for further adoption.

In June 2023, the debut of the Bitcoin Equities ETF on the Euronext Amsterdam exchange by Melanion Capital was followed by the launch of the Jacoby Bitcoin ETF. This ETF is designed to track the Melanion Bitcoin Exposure Index, which is a basket of stocks from European and American companies that have a close relationship with the BTC market price.

Unlike the spot ETF, this fund allows investors to gain exposure to stocks from companies that have significant investments in Bitcoin holdings, cryptocurrency exchanges, and mining operations. Examples of such companies are MicroStrategy, which holds over 140,000 BTC, and major Bitcoin mining companies such as Riot, Marathon Digital, and Hut8.

Share this article