Jacobi Asset Management listed the Europe’s first spot Bitcoin ETF on Euronext Amsterdam. The announcement took place this Tuesday (15), showing that the European bloc started ahead of the US.
O Jacobi FT Wilshire Bitcoin ETF represents the first digital asset fund to comply with Article 8 of the SFDR through its decarbonization strategy.
Jacobi implemented a verifiable Renewable Energy Certificate (REC) solution that allows institutional investors to access the benefits of Bitcoin while meeting ESG goals.
The ETF, regulated by the Guernsey Financial Services Commission, the GFSC, trades under the code BCOIN. The island of Guernsey is located off the coast of France and is a European microstate.
Custody services are provided by Fidelity Digital AssetsSM, with Flow Traders as market makers and Jane Street and DRW as authorized participants.
The fund’s benchmark, the FT Wilshire Bitcoin Blended Price Index, is provided by Wilshire Indexes with the REC solution co-developed with digital asset platform Zumo.
First Spot Bitcoin ETF in Europe Follows ESG Rules
The Jacobi FT Wilshire Bitcoin ETF offers an ESG-aligned digital asset solution where environmentally conscious ETF buyers can consider Bitcoin in their investment portfolio, and independently review environmental claims.
Jacobi’s solution differs from carbon offsetting products by quantifying the electricity consumption attributable to Bitcoin in the ETF and buying equivalent RECs, the standardized tool for purchasing clean energy.
This provides digital evidence of RECs, transparently recorded on a blockchain, the company said in a note.
In a press release, Jacobi Asset Management CEO Martin Bednall said it was exciting for Europe to get ahead of the US in an ETF targeting Bitcoin in the market.
“It is exciting to see Europe ahead of the US in opening up Bitcoin investment to institutional investors who want secure access to the benefits of digital assets using well-known and regulated structures such as our ETF. Unlike other products on the European market that are debt instruments, our fund owns the underlying asset directly. Jacobi is proud to be supported by Tier1 partners who are at the forefront of this evolution of the digital asset market as they pioneer an innovative and environmentally friendly solution for European investors.”
US SEC decision postponed
Last Monday (14), the SEC postponed a decision on whether or not to approve the bitcoin ETF proposed by the giant BlackRock.
With this, Europe is getting attention in the global market and is willing to jump in front to capture professional investors interested in a regulated bitcoin product.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
