{"id":141895,"date":"2021-10-15T18:49:10","date_gmt":"2021-10-15T18:49:10","guid":{"rendered":"https:\/\/precoinnews.com\/?p=141895"},"modified":"2021-10-15T18:49:10","modified_gmt":"2021-10-15T18:49:10","slug":"jacobi-asset-management-gains-gfscs-approval-to-launch-bitcoin-etf","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/jacobi-asset-management-gains-gfscs-approval-to-launch-bitcoin-etf\/","title":{"rendered":"Jacobi Asset Management Gains GFSC\u2019s Approval to Launch Bitcoin ETF"},"content":{"rendered":"
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).<\/span><\/p>\n According to the press release shared with\u00a0<\/span>Finance Magnates<\/span><\/em>, 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.<\/span><\/p>\n \u201cWe are excited to be launching a new secure, transparent and accessible product to track the performance of Bitcoin,\u201d said Jamie Khurshid, CEO at Jacobi Asset Management. \u201cWe 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.\u201d<\/span><\/p>\n 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.<\/span><\/p>\n \u201cThe Jacobi Bitcoin ETF will finally bring digital assets wholly into the mainstream investment infrastructure with the support of the leading firms we are working with. It will provide investors with the opportunity to participate directly in physically settled Bitcoin,\u201d Roy McGregor, Chairman of Jacobi Asset Management and former CEO of Credit Suisse Channel Islands, added.<\/span><\/p>\n Jacobi was launched in May 2021 by finance industry veterans to bring crypto products to the mainstream. Sigma Asset Management (Guernsey) Limited is acting as the administrator of the Bitcoin fund, while Midshore Consulting is the fund architecture.<\/span><\/p>\n \u201cGreater diversity of investor interest has created significant demand for additional vehicles for exposure to help provide broader access to digital asset markets,\u201d Chris Tyrer, Head of Fidelity Digital Assets in Europe, said.<\/span><\/p>\nGrowing Demand for Crypto Funds<\/span><\/h2>\n