Jacobi Asset Management To Launch Europe’s First Bitcoin ETF

Jacobi Asset Management declared on Thursday, June 30, that it would be launching Europe’s first Bitcoin exchange-traded-fund (ETF) on the Euronext exchange. The company noted that the Jacobi ETF would commence trading activities in July this year on Euronext Amsterdam under the symbol of BCOIN.

Jamie Khurshid, the CEO of Jacobi Asset Management, said:

The Jacobi Bitcoin ETF will enable investors to access the underlying performance of this exciting asset class via a well-established and trusted investment structure.

Last week, ProShares announced plans to launch an ETF named ProShares Short Bitcoin Strategy ETF (NYSE Ticker: BITI). This ETF aims to short the price of Bitcoin because, according to the CEO, Michael Sapir, “As recent times have shown, bitcoin can drop in value.” Then he added, “BITI enables investors to conveniently obtain short exposure to bitcoin through buying an ETF in a traditional brokerage account.”

In related news, the Securities and Exchange Commission has declined Grayscale Investment’s proposal to convert its current Grayscale Bitcoin Trust to an ETF. The CEO of Grayscale consequently announced a lawsuit to challenge the SEC’s decision at the United States Court of Appeals for the District of Columbia Circuit. The suit will argue that the SEC “violated administrative procedure act and Securities Exchange Act of 1934.”

The price of Bitcoin has been in the red in the last 48 hours. It currently trades at $19,290, with Ethereum trading close to the $1,000 price point.