Europe has beaten the U.S. with the roll-out of the first Bitcoin exchange-traded fund (ETF) as London-based Jacobi Asset Management on Tuesday announced the product's listing on Euronext Amsterdam. After receiving approval from the Guernsey Financial Services Commission (GFSC) in October 2021, the firm initially planned to launch its Bitcoin ETF product last year. Today, the Jacobi FT Wilshire Bitcoin ETF is finally live, trading under the ticker BCOIN. It charges investors a 1.5% annual management fee. Fidelity Digital Assets handles custodial services for the fund, while Flow Traders takes on the role of market maker.
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