Jacobi Asset Management has received approval from the Guernsey Financial Services Commission to launch an exchange-traded fund based on Bitcoin.
On October 15, the Jacobi Asset investment platform received approval from the Guernsey regulator to launch bitcoin ETF.
The fund will be listed on the European stock exchange Cboe Europe as soon as it receives listing approval from the FCA.
The minimum investment in the Jacobi Bitcoin ETF is $100,000, and the asset management fee for professional investors will be 15%.
The company spent almost ten months preparing a European ETF fund entirely focused on Bitcoin. Jacobi founder and CEO Jamie Khurshid noted:
“None of the ETPs in Europe are regulated. Jacobi's Bitcoin ETF has become the only regulated crypto product approved as an ETF.
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