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Europe's First Bitcoin ETF Set to Launch This Month

Europe's First Bitcoin ETF Set to Launch This Month WikiBit 2023-07-13 14:13

Europe's First Bitcoin ETF Set to Launch This Month

According to a report by the Financial Times, Europe's first Bitcoin ETF is expected to go public this month, following a 12-month delay from its planned launch.

Jacobi Asset Management initially announced that its Bitcoin ETF would be listed on the Amsterdam-based Pan-European Exchange in July 2022. The company now states that the fund is “expected” to launch this month. The timing was previously deemed unfavorable by Jacobi due to the cryptocurrency crash of Terra Luna in May 2022 and the collapse of cryptocurrency exchange FTX in November, causing concerns.

Michael O'Riordan, Founding Partner of ETF and digital asset consultancy firm Blackwater Search and Advisory, stated that the regulatory challenges of launching a Bitcoin ETF in Europe are “very significant” due to the fact that Bitcoin is not considered a qualifying asset under the Ucits rules.


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