Europe 'Takes Lead,' Beats US To Listing First Spot Bitcoin ETF On Euronext Amsterdam

Zinger Key Points
  • ETF directly owns the underlying asset, unlike other European offerings.
  • CEO Mark Makepeace: "This is a transformative moment."

Jacobi Asset Management has made a significant move by listing Europe's inaugural spot Bitcoin BTC/USD exchange-traded fund (ETF) on Euronext Amsterdam.

This listing comes nearly two years after its initial approval.

In a bid to align with environmental, social, and governance (ESG) objectives, Jacobi has integrated a Renewable Energy Certificate (REC) solution, allowing institutional investors to tap into the advantages of Bitcoin while simultaneously achieving their ESG targets, a press release issued Tuesday stated.

See Also: Bitcoin ETFs Poised To Capture Significant Market Share Within 3 Years

Jacobi Asset Management CEO Martin Bednall expressed his enthusiasm about the development.

"Europe is taking a lead over the US in facilitating Bitcoin investments for institutional investors through regulated structures like our ETF," he said. "Distinct from other European offerings that are debt instruments, our fund directly owns the underlying asset."

Bednall also highlighted the support from top-tier partners in the digital asset market evolution and Jacobi's commitment to providing an eco-friendly solution for European investors.

Mark Makepeace, CEO of Wilshire Indexes, echoed the sentiment, emphasizing the significance of the Jacobi FT Wilshire Bitcoin ETF launch.

"This is a transformative moment for the global financial industry," he said. "Our collaboration with Jacobi underscores our dedication to fostering the growth of the digital asset ecosystem."

The release further stated that unlike traditional carbon offsetting methods, Jacobi's strategy quantifies the electricity consumption linked to Bitcoin in the ETF.

It then purchases equivalent RECs, which are standardized tools for acquiring clean energy.

This approach ensures a digital verification of RECs, transparently documented on a blockchain.

Also Read: BlackRock's ETF Launch Could Skyrocket Bitcoin Price To $180,000 Before 2024 Halving

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Posted In: CryptocurrencyESGNewsTop StoriesMarketsBlockchain TechnologyCarbon offsettingDigital AssetsEuropeInstitutional InvestorsJacobi Asset ManagementRenewable Energy CertificateSpot Bitcoin ETFWilshire Indexes
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