Euronext Amsterdam Lists Europe's First Spot Bitcoin ETF

A year after its initially scheduled debut, Jacobi Asset Management has officially introduced Europe's first spot Bitcoin Exchange-Traded Fund (ETF) on Euronext Amsterdam.

Listed under the ticker BCOIN, the Guernsey Financial Services Commission (GFSC) oversees the ETF. 

Fidelity Digital Assets renders custodial services, Flow Traders act as the market makers, and both Jane Street and DRW serve as Authorized Participants. The fund's benchmark, the FT Wilshire Bitcoin Blended Price Index, is sourced from Wilshire Indexes.

Martin Bednall, Jacobi Asset Management's CEO, expressed his enthusiasm by stating “it is exciting to see Europe moving ahead of the U.S. in opening up Bitcoin investing for institutional investors who want safe, secure access to the benefits of digital assets using familiar and regulated structures like our ETF.”

Bednall added that contrary to many European offerings that operate as debt instruments, their fund holds the core asset outright.

Wilshire Indexes' CEO, Mark Makepeace, underlined the ETF launch's importance, noting, “the launch of the Jacobi FT Wilshire Bitcoin ETF is an important milestone for the digital asset industry and a transformative moment for the global financial industry. We are excited about the partnership with Jacobi and, as a leader in the development of institutional grade digital asset benchmarks, we are committed to helping accelerate the advancement of the entire digital asset ecosystem.”

As Europe unveils its first spot Bitcoin ETF, the U.S. remains in a holding pattern regarding its listing. Just last week, the SEC postponed its verdict on the approval of Cathie Wood's ARK Invest spot Bitcoin ETF proposal, leading many investors to wonder when an endorsement will finally come through.