The Jacobi FT Wilshire Bitcoin ETF, Europe’s first spot Bitcoin (BTC) exchange-traded fund (ETF), has gone live on the Euronext Amsterdam stock exchange.

While a spot Bitcoin ETF listing in the US is proving elusive, Europe has managed to get there first.

European Investors Can Now Have Exposure to Spot Bitcoin  

According to Businesswire, Jacobi Asset Management has listed Europe’s first spot Bitcoin ETF on the Euronext Amsterdam stock exchange. The Jacobi FT Wilshire Bitcoin ETF will have a ticker symbol of BCOIN. The Guernsey Financial Services Commission (GFSC) will oversee its regulation. 

However, Patric Hansen, Director of the European Union Strategy and Policy at Circle, criticized the development and called it misleading. He wrote:

“Misleading headline. EU ETFs cannot be used for single assets like Bitcoin or gold for regulatory reasons. Bitcoin ETPs, on the other hand have existed in the EU for years.”

BE[IN]CRYPTO reported earlier that Jacobi had registered a European spot Bitcoin ETF Guernsey. The Channel Islands are not members of the EU, hence, regulators can approve an ETF.

US Yet to Approve Spot Bitcoin ETFs 

In the meantime, several investment funds, including the prominent asset management firm BlackRock, have submitted applications for spot Bitcoin exchange-traded funds (ETFs) in the United States.

However, ETF applications in the US are expected to have a bumpy ride due to various delays. On Aug. 11, the Securities and Exchange Commission (SEC) delayed reviewing ARK Invest’s application for its ETF. 

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Author: Harsh Notariya

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