Europe’s first bitcoin The exchange-traded fund (ETF) is expected to go public this month, 12 months after its planned launch.
According to the news published by the FT, Jacobi Asset Management first announced that the Bitcoin ETF will be listed on Euronext Amsterdam in July 2022. But now, the Terra collapse in May 2022 and in November cryptocurrency After its exchange decided that “the time wasn’t right” last year following the collapse of FTX, it says the fund’s launch this month is “according to plan.”
The asset manager company stated that “demand has changed since last summer.”
All digital asset products traded on the stock exchange in Europe so far have been structured as exchange-traded notes rather than funds.
Jacobi said his ETF, unlike ETNs, cannot be leveraged or use derivatives, otherwise it may introduce “significant counterparty risk.”
According to data from Coinbase and Bloomberg, net flows to European digital asset ETPs in the last 18 months amounted to $483 million, including $398 million in inflows in the third quarter of 2022 alone.
*Not investment advice.
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