Eat your heart out, America! Europe’s making a splash with its first-ever spot bitcoin ETF, and guess where? The bustling Euronext Amsterdam. While the US dilly-dallies, Europe’s dancing to the crypto beat.
Enter Jacobi Asset Management, parading their shiny new ETF – the Jacobi FT Wilshire Bitcoin ETF. But this isn’t your run-of-the-mill digital fund. Oh no, it’s eco-friendly, aligning with the EU’s laughably ambitious sustainability guidelines. Because what’s better than digital gold? Green digital gold, of course!
Although a tad late (a year to be precise) to their own party, Jacobi is now trading with the swanky ticker, BCOIN. And who’s the watchful eye over this crypto pot? The Guernsey Financial Services Commission. Handling the keys? Fidelity Digital Assets, with Jane Street and DRW playing in the sandbox as authorized participants.
But here’s the juicy bit. To soothe the eco-warriors, Jacobi’s added a Renewable Energy Certificate (REC) to their ETF. They’re tracking energy used by their bitcoin and buying equivalent green energy. And for the skeptics? Proof is on the blockchain. Because nothing says trust like a digital ledger!
While Europe’s riding the direct bitcoin ETF wave, the US regulators are still playing coy, busy voicing concerns about “market manipulation” and “insufficient trading surveillance”. Sounds like cold feet, if you ask me.
In a statement dripping with a mix of pride and subtle shade, Jacobi’s CEO Martin Bednall quipped, “It’s thrilling to see Europe sprint past the US in the Bitcoin ETF relay. Our ETF offers a secure bridge to digital assets, and guess what, no need to babysit actual bitcoins!”