Jacobi Asset Management Gains GFSC’s Approval to Launch Bitcoin ETF

Jacobi Asset Management announced that it has received approval from the Guernsey Financial Services Commission (GFSC) to launch a centrally-cleared Bitcoin exchange-traded fund (ETF).

According to the press release shared with Finance Magnates, the fund is called Jacobi Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term ETF and will be listed on Cboe Europe, which is subject to Financial Conduct Authority (FCA) Financial Conduct Authority (FCA) The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol The Financial Conduct Authority (FCA) is the largest financial regulator for all financial markets in the United Kingdom (UK).The UK regulator is responsible for the conduct of firms authorized under the Financial Services and Markets Act 2000. Moreover, the FCA is also responsible for the regulation of behavior in retail and wholesale financial markets, supervision of the trading infrastructure that supports those markets, and the prudential regulation of firms not regulated by the PRA. Its rol Read this Term) listing approval. The asset management company has partnered with Fidelity Digital Assets for custodial needs.

“We are excited to be launching a new secure, transparent and accessible product to track the performance of Bitcoin,” said Jamie Khurshid, CEO at Jacobi Asset Management. “We are de-risking investments in crypto by removing the technology risk associated with the physical asset and the counterparty risk associated with traditional funds or tracker products, that are unregulated leveraged debt instruments.”

Growing Demand for Crypto Funds

While the US market is yet to get the first mainstream retail Bitcoin investment product, many crypto funds have been listed on multiple European exchanges. These crypto products have also seen massive demand among investors pushing more and more players to jump into the arena.

“The Jacobi Bitcoin ETF will finally bring digital assets wholly into the mainstream investment infrastructure with the support of the leading firms we are working with. It will provide investors with the opportunity to participate directly in [the] physically settled Bitcoin,” Roy McGregor, Chairman of Jacobi Asset Management and former CEO of Credit Suisse Channel Islands, added.

Jacobi was launched in May 2021 by finance industry veterans to bring crypto products to the mainstream. Sigma Asset Management (Guernsey) Limited is acting as the administrator of the Bitcoin fund while Midshore Consulting is the fund architecture.

“Greater diversity of investor interest has created significant demand for additional vehicles for exposure to help provide broader access to digital asset markets,” Chris Tyrer, Head of Fidelity Digital Assets in Europe, said.