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- Jacobi Asset Management recently highlighted that it would roll out Europe’s first Bitcoin exchange-traded fund (ETF) on the Euronext exchange.
- The US SEC has also rejected a proposal to list a spot Bitcoin exchange-traded fund (ETF) by Grayscale.
- Bitcoin is currently trading at $19,127 and is down by around 4% in the last twenty-four hours.
Jacobi Asset Management recently highlighted that it would roll out Europe’s first Bitcoin exchange-traded fund (ETF) on the Euronext exchange amidst the market fluctuation. It seems like they are pretty optimistic about the future of cryptocurrencies.
The company is planning to initiate its Jacobi Bitcoin ETF trading from next month on Euronext Amsterdam under the BCOIN symbol.
According to Jamie Khurshid, the CEO of Jacobi, the Jacobi Bitcoin ETF would allow the investors to access the underlying performance of this exciting asset class through a well-established and trusted investment structure.
Bitcoin plunged significantly earlier in June when it touched the $17,000 mark and dropped below $20,000 for the very first time after December 2020. The crowned cryptocurrency is highly down compared to its All-Time High last November when it hit $69,000.
Not only Bitcoin but Ethereum and other altcoins also have witnessed a downtrend in their performance in this crypto winter.
At the time of writing, the flagship crypto asset is exchanging hands at $19,127 and is down by around 4% in the last twenty-four hours.
Earlier in the month, ProShares announced its plans to roll out an ETF that would be focused on shorting Bitcoin.
Even though many crypto-related entities have been trying to launch and establish their own ETF, the US Securities and Exchange Commission (SEC) has been acting quite mercilessly in that case. It recently rejected a proposal to list a spot Bitcoin exchange-traded fund (ETF) by Grayscale.
The regulator gave a reason for the decision by asserting that the proposal provided to them regarding the ETF list did not fulfill all the requirements essential to prevent acts like fraud, cybercrimes, and manipulative practices to protect both the public and investors’ interests.
ALSO READ: Recent Report Discloses Primary Cause Of The Recent Crypto Market Downturn
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
