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Guernsey Regulator Approves Launch of Jacobi Asset Management Bitcoin ETF

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Crypto News

Jacobi Asset Management has announced that it has received approval to launch a “first level” ETF for bitcoin. The term emphasizes the support of the fund from top partners.

The launch of the new fund was approved by the Bailiwick of Guernsey regulator, the Guernsey Financial Services Commission (GFSC). The shares of the ETF will be traded on the European stock Exchange Cboe Europe, but the listing must be approved by the British regulator. Fidelity Digital Assets will store the cryptocurrency for the new fund.

“A tier one ETF is a term describing an ecosystem of top partners. We are in the process of listing on a top stock exchange. In addition, all the firms supporting the launch of the fund are the best representatives of the industry,” the Jacobi representative stressed.

The Jacobi Asset Management team has been working on getting regulatory approval for more than nine months. The new fund will be “fully regulated” and will be “the first fund in Europe to invest all funds in bitcoin.” Only institutional investors and professional traders will have access to investments in the new fund, and the minimum investment amount will be $ 100,000.

Earlier it became known that the US Securities and Exchange Commission (SEC) approved the launch of an ETF for bitcoin futures by ProShares. The SEC has changed its attitude to applications for launching ETFs for bitcoin futures, but funds with direct investments in the first cryptocurrency are not planned to be approved yet.

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