Bitcoin exchange-traded funds are popping up throughout the Atlantic.
- Newcomer digital belongings supervisor Jacobi stated Friday that it received approval from regulators on the island of Guernsey to launch a physically-backed bitcoin ETF.
- The information comes as U.S. traders await the destiny of a spate of bitcoin futures-linked ETFs from the SEC. With Bloomberg reporting their approval is imminent, the crypto markets are rallying, bitcoin main the way in which.
- Jacobi plans to checklist the ETF on Cboe Europe pending additional regulatory approval. It stated in a press launch that the U.Okay.’s Financial Conduct Authority nonetheless should weigh in on pre-listing.
- The Jacobi Bitcoin ETF will solely be open to establishments when it launches. The ETF carries a 1.5% administration price, a brochure stated.
- Fidelity Digital Assets will custody the fund’s bitcoin, a press launch stated. A spokesperson for Jacobi didn’t instantly reply to a request for remark.
See additionally: Lessons From the Canadian Model for a Crypto ETF