Europe’s first spot Bitcoin exchange-traded fund (ETF) is expected to be publicly listed this month, following a 12-month delay from the initially planned date, the Financial Times reported on Thursday.
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Fast facts
- Jacobi Asset Management delayed the launch of its spot Bitcoin ETF that was originally set to debut in July 2022, following the Terra-Luna collapse, which erased tens of billions of dollars from the global cryptocurrency market.
- This isn’t the first cryptocurrency-based financial product in the European market. The BTCE, a Bitcoin exchange-trade product, listed on Germany’s Xetra exchange in 2021.
- The development follows a flurry of spot Bitcoin ETF applications in the U.S. from financial heavyweights such as BlackRock, WisdomTree and Fidelity Investments.
- Bitcoin slipped 0.63% to US$30,579 in the 24 hours leading up to 23:10 in Hong Kong.
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