While the crypto world has been waiting for the first ETF approval from the US for years, the first Bitcoin futures ETF is expected to be listed next week.
While these positive ETF news from the USA still keep the heat on the agenda, an ETF approval news came from the UK.
London-based investment platform Jacobi Asset Management has announced that it has received approval from the Guernsey Financial Services Commission (GFSC) for a Bitcoin ETF.
The firm plans to list the Jacobi Bitcoin ETF on Cboe Europe, one of the largest European Stock exchanges. It was also stated that the Jacobi Bitcoin ETF will be open to institutions only when it is launched.
The GFSC approval of the Jacobi Bitcoin ETF allows investors to trade Jacobi ETFs on traditional exchanges in “all jurisdictions outside the United States and other countries with similar restrictions.”
Jamie Khurshid, CEO of Jacobi Asset Management, said:“Regulatory clarity helps companies and institutions invest in Bitcoin safely without all the risks associated with technology and counterparties.” told.
Noting that they have been working for nine months to get ETF approval from the regulators, a Jacobi spokesperson also said that the Jacobi Bitcoin ETF was “the only regulated crypto product and has been approved as an ETF.”
Jacobi Asset Management, run by former Goldman Sachs investment banker Jamie Khurshid, began operations in May.