|

Europe’s first Bitcoin ETF to start trading after 12 months of waiting

Multiply 45X Your Bitcoins
Bitcoin Suisse Club Return 50X in 5 Hours Min 0.005 btc
77x bitcoin

Bitcoin ETFs have caused a sensation in the United States since the Securities and Exchange Commission (SEC) approved the first ETF in 2021. However, across the ocean, these exchange-traded digital asset funds have not had much luck. That is, until now, when the first Bitcoin ETF will start trading in Europe, two years after the first BTC ETF started trading in the United States.

First Bitcoin ETF in Europe ready to go

Now the Bitcoin ETF situation is not for a lack of trying as there have been applications after US approvals. One of them was from Jacobi Asset Management which had been approved in 2022. As it grew Due to the anticipation surrounding the launch of the Jacobi Bitcoin ETF, the digital asset manager would end up pushing the launch back a year.

At the time, the market was entering its bear market phase, which was initially triggered by the collapse of Terra LUNA, which was understandable. However, the delay would continue until 2022, until now, when Jacobi has announced that he is ready to start trading.

According to a Financial Times report published on Thursday, the company is ready to move forward with its Bitcoin ETF and it will launch for listing this month. This comes after the ETF received approval in Guernsey to start trading.

The fact that the Bitcoin ETF is launching now could signal increased interest from institutional players in Europe, which could help boost demand. Jacobi Asset Management points to this, saying the ETF is launching now because “demand has changed since last summer.”

Digital asset ETFs heat up

The launch of Europe’s first Bitcoin ETF comes amid a clamor from major fund managers to get a spot ETF approved in the United States. So far, companies like BlackRock, Fidelity, and WisdomTree, among others, have applied for Spot Bitcoin ETFs. And even after the SEC again deemed their filings inadequate, fund managers doubled down and refiled their claims.

These ETFs, if approved, could be the trigger for the next bull run. Its potential impact was already demonstrated when the BTC price topped $31,000 following news of Spot ETF applications from BlackRock and others.

In fact, the increase in the number of fund managers applying for ETFs already suggests that these wealth managers are receiving a lot of interest from their clients. And those clients are big investors whose entry into the space could see billions of dollars flowing into cryptocurrencies.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *