Jacobi Asset Management has unveiled Europe’s inaugural spot Bitcoin ETF on Euronext Amsterdam. This ETF, named the Jacobi FT Wilshire Bitcoin ETF and trading under the ticker BCOIN, stands out as the first digital asset fund in compliance with SFDR Article 8, thanks to its decarbonisation strategy.
The ETF’s unique approach involves a verifiable Renewable Energy Certificate (REC) solution, a collaboration with digital asset platform Zumo. This solution transparently and quantifiably addresses the electricity consumption associated with Bitcoin investments, setting it apart from traditional carbon offsetting methods. The initiative ensures that institutional investors can tap into Bitcoin’s advantages while adhering to their ESG objectives.
Regulated by the Guernsey Financial Services Commission (GFSC), the ETF has garnered support from notable entities. Fidelity Digital AssetsSM is the custodian, Flow Traders act as market makers, and both Jane Street and DRW function as Authorised Participants. Furthermore, the ETF’s benchmark, the FT Wilshire Bitcoin Blended Price Index, is supplied by Wilshire Indexes.
Martin Bednall, CEO of Jacobi Asset Management, remarked on the development, stating, “Europe’s progressive stance on Bitcoin investment for institutional investors is commendable. Our ETF, distinct from European debt instruments, holds the underlying asset directly. We’re honoured to collaborate with top-tier partners in this digital asset market evolution, simultaneously introducing an eco-friendly solution for European investors.”
Wilshire Indexes’ CEO, Mark Makepeace, echoed this sentiment, emphasizing the ETF’s role as a pivotal moment for both the digital asset and global financial sectors. He expressed enthusiasm about the collaboration with Jacobi and Wilshire Indexes’ commitment to fostering the growth of the digital asset ecosystem.
The Jacobi FT Wilshire Bitcoin ETF presents an environmentally-aligned digital asset alternative. It allows potential ETF investors to contemplate Bitcoin as part of their portfolio and independently verify environmental claims. The ETF’s approach involves calculating the power consumption due to Bitcoin and procuring equivalent RECs, ensuring transparent blockchain-recorded proof of these certificates.
Kirsteen Harrison, Zumo’s Environmental Manager, highlighted the urgency of crypto decarbonisation. She shared, “The collaboration with Jacobi Asset Management has been instrumental in crafting an ESG-aligned, future-ready crypto solution. Witnessing its realization as Europe’s first Bitcoin ETF is a monumental industry achievement.”
Emanuel van Praag, a lawyer at Kennedy Van der Laan, also expressed pride in offering legal advice to Jacobi AM during the ETF’s listing process.
This development underscores the evolving landscape of digital asset investment, blending technological advancement with environmental responsibility.
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