Europe's First Bitcoin ETF to Be Launched This Month: Financial Times
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UK-based Jacobi Asset Management plans to register the first exchange-traded fund (ETF) in Europe based on BTC, the Financial Times has reported.

According to the publication, the company received approval from the Guernsey Financial Services Commission to launch the product in October 2021. According to Jacobi's plans, the Bitcoin ETF was due to appear in July last year, but its launch was postponed due to the collapse of the Terra ecosystem.

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The company has also received approval to list the instrument on the Euronext stock exchange in Amsterdam.

Jacobi representatives have said that "demand has shifted since last summer." So far, all digital assets traded on the European stock market have been in the form of exchange-traded notes (ETNs).

Jacobi co-founder and CEO Peter Lane has said last year that structured bond issuers are guilty of abusing the term ETF to hide "the risks inherent in investing in ETNs."

According to him, exchange-traded funds are safer because they do not allow leverage.

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