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European Bitcoin ETF Launches, Outshining US in Race to Market

• Jacobi Asset Management has launched a Bitcoin ETF on Euronext Amsterdam.
• The ETF tracks the Melanion Bitcoin Exposure Index, which provides exposure to stocks related to BTC’s market price.
• Fidelity Digital Assets provides custody for the fund and Flow Traders operates as its market maker.

Jacobi Launches Bitcoin ETF

London-based Jacobi Asset Management announced the launch of its Bitcoin ETF on Euronext Amsterdam, with the U.S. falling behind in the race. The new Bitcoin ETF is trading under the BCOIN ticker and tracks the Melanion Bitcoin Exposure Index which is a custom basket of European and American stocks closely tied to BTC’s market price.

Custody & Market Maker

Fidelity Digital Assets provides custody for the fund while Flow Traders operates as its market maker. It charges investors a 1.5% annual management fee to invest in it. The company also emphasizes that this bitcoin fund is environment-friendly as it utilizes external data to calculate the Bitcoin network’s energy consumption and then purchases and retires RECs (renewable energy certificates). These RECs are also recorded on a blockchain platform which allows investors to verify that this fund is indeed eco-friendly.

U.S Left Behind

Regulators in the U.S have yet to permit approval of any spot Bitcoin ETF applications so far, leaving Europe ahead in launching its first ever such product even before America could do so officially.

First for Europe

The launch of this spot BTC ETF marks a watershed moment for European crypto markets, signifying their growth and development over past few years in comparison with other continents like America who are still struggling with their regulatory framework when it comes to cryptocurrencies or crypto assets more generally speaking .

Brief Overview

To summarize, London based digital asset management firm Jacobi Asset Management has launched their first ever bitcoin exchange traded fund (ETF) on Euronext Amsterdam under ticker BCOIN with Fidelity Digital Assets providing custody services for this product while Flow Traders operating as its market maker charging an annual fee of 1.5%. This news marks a major milestone for European cryptocurrency markets outshining US counterparts who are still struggling due to lack of proper regulatory framework regarding cryptocurrencies or digital assets more generally speaking