Europe First Spot Bitcoin ETF | Crypto Daily Digest Aug. 15

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Jacobi Asset Management Launches First Spot Bitcoin ETF in Europe

London-based Jacobi Asset Management today announced the first Bitcoin exchange-traded fund (ETF) listing on Euronext Amsterdam.

Jacobi FT Wilshire Bitcoin ETF is trading under the ticker BCOIN. It charges investors a 1.5% annual management fee.

The firm emphasized that as an open-ended fund, its Bitcoin ETF will mark a major shift from the traditional exchange-traded notes (ETNs), to date the most widely spread structure in Europe for crypto-backed financial instruments.

One key distinction between an ETN and an ETF lies in the ownership structure and the nature of the investment. In the case of an ETF, shareholders possess a stake in the underlying assets held by the fund. ETN investors, on the other hand, own a debt-security.

ETFs are restricted from using leverage or incorporating derivatives, which helps mitigate the potential risks associated with market manipulation. Conversely, ETNs may incorporate leverage or derivatives, thereby introducing an additional layer of risk.

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