Jacobi Asset Management Wins Bitcoin ETF Approval in Guernsey
The news comes as investors eagerly await the SEC’s verdict on a crop of bitcoin futures ETFs.
Oct 15, 2021 at 6:26 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/OG5HY6ITJBHHDHL5NHMOV2R6ZI.jpg)
ST PETER PORT, GUERNSEY, CHANNEL ISLANDS: Castle Cornet, St Peter Port, Guernsey, Channel Isles. (Photo by Tim Graham/Getty Images)
Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Bitcoin exchange-traded funds (ETFs) are popping up across the Atlantic.
- Newcomer digital assets manager Jacobi Asset Management said Friday that it won approval from regulators on the island of Guernsey to launch a physically-backed bitcoin ETF.
- The news comes as U.S. investors await the fate of a spate of bitcoin futures-linked ETFs from the Securities and Exchange Commission (SEC). With Bloomberg reporting their approval is imminent, the crypto markets are rallying, with bitcoin leading the way.
- Jacobi plans to list the ETF on Cboe Europe pending further regulatory approval. It said in a press release that the U.K.’s Financial Conduct Authority still must weigh in on pre-listing.
- The Jacobi Bitcoin ETF will only be open to institutions when it launches. The ETF carries a 1.5% management fee, a brochure said.
- Fidelity Digital Assets will be the custodian of the fund’s bitcoin, a press release said. A spokesperson for Jacobi did not immediately reply to a request for comment.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/s3.amazonaws.com/arc-authors/coindesk/fa5ce9a3-9c4d-4ed4-bb04-c7af51bf1a0d.jpg)
Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/C7GWS6BHHBCNZHNWQB6SW2BUEU.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DTICW6YAGZE4VG2YVDJ5HX2AUI.PNG)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/G3NF7FVP7NFI5L3V3X3W37HLQI.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HULF64WQDFCPLIY4YXZ5L2DZTQ.jpg)