Jacobi Asset Management Gains GFSC’s Approval to Launch Bitcoin ETF

Jacobi Asset Management announced that it has received approval from the Guernsey Financial Services Commission (GFSC) to launch a centrally-cleared Bitcoin exchange-traded fund (ETF).

According to the press release shared with Finance Magnates, the fund is called Jacobi Bitcoin ETF and will be listed on Cboe Europe, which is subject to Financial Conduct Authority (FCA) listing approval. The asset management company has partnered with Fidelity Digital Assets for custodial needs.

“We are excited to be launching a new secure, transparent and accessible product to track the performance of Bitcoin,” said Jamie Khurshid, CEO at Jacobi Asset Management. “We are de-risking investments in crypto by removing the technology risk associated with the physical asset and the counterparty risk associated with traditional funds or tracker products, that are unregulated leveraged debt instruments.”

Growing Demand for Crypto Funds

While the US market is yet to get the first mainstream retail Bitcoin investment product, many crypto funds have been listed on multiple European exchanges. These crypto products have also seen massive demand among investors pushing more and more players to jump into the arena.