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Europe’s First Premier Bitcoin ETF with a Green Initiative

Jacobi Asset Management introduces Europe’s inaugural spot Bitcoin ETF on Euronext Amsterdam with a groundbreaking decarbonisation strategy.

Key Points

  • Jacobi Asset Management launches Europe’s first spot Bitcoin ETF on Euronext Amsterdam with a unique decarbonization strategy.
  • The ETF collaborates with Zumo for a Renewable Energy Certificate solution, addressing Bitcoin’s electricity consumption transparently.
  • Regulated by GFSC, supported by Fidelity Digital Assets, Flow Traders, Jane Street, and DRW; uses FT Wilshire Bitcoin Blended Price Index.
  • The ETF pioneers an eco-friendly approach, verifying environmental claims, and highlights the importance of decarbonizing cryptocurrency.

Jacobi Asset Management, a prominent financial institution, has made a significant announcement regarding the launch of Europe’s inaugural spot Bitcoin Exchange Traded Fund (ETF) on Euronext Amsterdam.

This move marks a milestone in the digital asset market as the Jacobi FT Wilshire Bitcoin ETF becomes the first compliant fund in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (SFDR) thanks to its unique decarbonisation strategy.

About Jacobi Asset Management

The Jacobi FT Wilshire Bitcoin ETF distinguishes itself through its innovative approach involving a verifiable Renewable Energy Certificate (REC) solution.

This initiative is the result of a collaboration between Jacobi Asset Management and digital asset platform Zumo. Unlike traditional carbon offsetting methods, this solution transparently and quantifiably addresses the electricity consumption associated with Bitcoin investments.

By doing so, it enables institutional investors to tap into the advantages of Bitcoin while adhering to their Environmental, Social, and Governance (ESG) objectives.

Regulated by the Guernsey Financial Services Commission (GFSC), the ETF has gained support from notable entities. Fidelity Digital AssetsSM has been appointed as the custodian, while Flow Traders acts as market makers.

Additionally, both Jane Street and DRW have been designated as Authorised Participants. The ETF’s benchmark, the FT Wilshire Bitcoin Blended Price Index, is supplied by Wilshire Indexes.

CEO of Jacobi

Martin Bednall, CEO of Jacobi Asset Management, expressed his appreciation for Europe’s progressive stance on Bitcoin investment in the institutional investor market.

He emphasized the distinction of their ETF, which holds the underlying asset directly unlike European debt instruments. Bednall also highlighted the honor of collaborating with top-tier partners to introduce an eco-friendly solution for European investors.

Mark Makepeace, CEO of Wilshire Indexes, echoed the sentiment, describing the ETF as a pivotal moment for the digital asset and global financial sectors.

He expressed enthusiasm about the collaboration with Jacobi and Wilshire Indexes’ commitment to promoting the growth of the digital asset ecosystem.

The Jacobi FT Wilshire Bitcoin ETF presents an environmentally-aligned alternative for digital asset investment. It allows potential investors to consider Bitcoin as part of their portfolio while independently verifying environmental claims.

The ETF’s approach involves calculating the power consumption associated with Bitcoin and acquiring equivalent Renewable Energy Certificates. This ensures transparent blockchain-recorded proof of these certificates.

Concluding Thoughts

Kirsteen Harrison, Zumo’s Environmental Manager, emphasized the urgency of decarbonising cryptocurrency.

She acknowledged the instrumental role played by the collaboration with Jacobi Asset Management, resulting in an ESG-aligned, future-ready crypto solution.

Harrison described the launch of Europe’s first Bitcoin ETF as a monumental achievement for the industry.

Emanuel van Praag, a lawyer at Kennedy Van der Laan, expressed pride in providing legal advice to Jacobi AM throughout the ETF’s listing process.

This development underscores the evolving landscape of digital asset investment, blending technological advancement with environmental responsibility. It sets a precedent for future funds to follow in incorporating decarbonisation strategies into their offerings.