Launched by former Goldman Sachs investment banker asset management firm Jacobi has announced it has received approval to launch "the world's first tier one" bitcoin-ETF. The exchange traded fund is authorized by the Guernsey Financial Services Commission (GFSC).
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"This is an exciting moment for Europe as regulatory approval comes ahead of those waiting for a decision from the US Securities and Exchange Commission," said Jacobi's Chief Executive, Jamie Khurshid.
The fund's assets will by stored at Fidelity Digital AssetsSM. The firm says it will list the ETF on Cboe Europe. However, as of press time its application is subject to Financial Conduct Authority (FCA) approval. Prior to FCA's approval, Jacobi bitcoin-ETF investments will be facilitated via Sigma Asset Management, the firm added.
Meanwhile, Bloomberg reported citing sources familiar with the matter that the SEC is "unlikely to block" the launch of bitcoin-ETF in the US. According to the media, applications from ProShares and Invesco are the leading candidates for approval.
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