New bitcoin ETF listed on Euronext Amsterdam this month
In the Netherlands, a new bitcoin fund is requested in advance. After VanEck’s bitcoin exchange traded note (ETN), London’s Jacobi Asset Management is also launching a bitcoin exchange-traded fund (ETF).
Bitcoin fund
The Euronext Amsterdam stock exchange confession its first bitcoin ETF. The exchange is part of the pan-European trading house Euronext
Bitcoin London trading Jacobi Asset Management is preparing to list its Jacobi exchange ETF on the Amsterdam stock exchange. The spot bitcoin ETF is listed under the ticker BCOIN.
CEO Jamie Khurshid says:
“Our product is the first bitcoin fund with a place of funding. The fund is not allowed to use any of the assets it lends out. For the first time in Europe, investors who buy a bitcoin product on the exchange will own the units of the bitcoin they use.†
He lists that there are already other listed products in Europe, but no other spot bitcoin ETFs. The implementation will differ on this, however, with providers such as 21Shares and VanEck marketing products.
new step
A talk from Euronext mocks that BCOIN will be the first bitcoin ETF ever listed on Euronext.
“This is the first fund to be directly in bitcoin. All other current products are first-rate stocks in the underlying securities segment.”
To the start of trading in the ETF in July. Euronext has not given a specific date for the launch.
The underlying bitcoin for the fund is managed by Fidelity Digital Assets. Flow Traders and DRW are the market makers to propose the trade. Institutional and professional investors in Europe can join the ETF for an annual fee of 1.5%.
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