Jacobi Bitcoin (BTC) exchange-traded fund (ETF), the first European BTC ETF, is set to launch later this month on Euronext Amsterdam, Financial Times reported on July 13.
Jacobi Asset Management reportedly stated that the fund was “on track” for listing this month as there was now demand for it following its initial 12-month-long hiatus because of the Terra Luna-induced crypto market collapse in 2022.
The distinctive feature of Jacobi’s ETF lies in its structure. Unlike conventional European exchange-traded products tied to digital assets, it’s not organized as an exchange-traded note (ETN). Highlighting the difference, Jacobi stated that its shareholders would have a stake in the ETF’s underlying assets, contrasting to ETN investors who essentially own a form of debt security.
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