Jacobi Asset Management to launch Europe’s first bitcoin ETF on Euronext

A bitcoin illustration is witnessed in an illustration image taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Picture

BRUSSELS, June 30 (Reuters) – Jacobi Asset Management said on Thursday that it would launch Europe’s to start with bitcoin exchange-traded-fund (ETF) on the Euronext exchange, in a signal of the cryptocurrency’s enchantment inspite of its risky price tag swings.

The firm explained its Jacobi Bitcoin ETF would start buying and selling in July on Euronext Amsterdam under the image of ‘BCOIN’.

“The Jacobi Bitcoin ETF will empower traders to entry the underlying effectiveness of this interesting asset course via a nicely-proven and trustworthy investment decision construction,” explained Jacobi CEO Jamie Khurshid, a former Goldman Sachs banker.

Earlier this thirty day period, Bitcoin fell to as very low as $17,592.78, dropping under $20,000 for the first time due to the fact December 2020.

Bitcoin, the major electronic forex, is down about 70% from its superior of all-around $69,000 in November.

Other cryptocurrencies have also plunged in new months as buyers dump assets considered as fairly superior-threat in favour of protected-haven assets this sort of as gold in response to soaring inflation and tighter monetary policies by important central banking institutions.

Earlier this thirty day period, ProShares announced strategies to launch an ETF aimed at ‘shorting’ bitcoin – namely betting on a future slide in its benefit, when the U.S. securities regulator rejected a proposal to listing a spot bitcoin trade-traded fund (ETF) by Grayscale, one of the world’s biggest digital asset administrators, on the NYSE Arca exchange. go through far more

Reporting by Sudip Kar-Gupta editing by Jacqueline Wong and Jason Neely

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