- Jacobi Asset Management has officially launched Jacobi FT Wilshire Bitcoin.
- It trades on Euronext Amsterdam under the ticker BCOIN.
- The company had planned to bring the product to the stock market as early as 2021.
Jacobi Asset Management has launched Europe’s first bitcoin-ETF on Euronext Amsterdam on August 15, 2023. It is available under the ticker BCOIN.
In June 2023, media reports said the firm was close to launching the fund. Jacobi Asset Management received authorization from the Guernsey Financial Services Commission back in 2021.
But the release of the product was delayed due to market turmoil. On Aug. 15, the company confirmed the fund’s listing on the exchange.
As of this writing, more than $1 million has already been contributed to the Jacobi FT Wilshire Bitcoin fund. The firm charges a 1.5% management fee. The issue is 50,000 shares.
Custodial services are provided by Fidelity Digital Assets, with Flow Traders acting as market maker.
“This fund was designed to provide institutional investors with simple, safe and transparent access to bitcoin while meeting sustainability requirements. We believe this particular product will be the catalyst to institutional adoption of digital assets,” emphasized Jacobi CEO Martin Bednall.
You can learn more about what a bitcoin-ETF is and how this product affects the cryptocurrency market from our article: