Hotly-anticipated Jacobi Bitcoin ETF sees lukewarm reception on debut

2023-8-16 21:20

Early indications show that Europe’s “first” Bitcoin (BTC) exchange-traded fund (ETF), Jacobi Bitcoin ETF, is not generating much interest as anticipated, as its transaction volume of only four transactions during the first day of its trading.

Data from Euronext shows that the Jacobi ETF recorded only four transactions, with a volume of 113 as of press time. In addition, the ETF’s price has experienced a marginal 0.1% decline since its initial opening. Notably, the most competitive bid has been observed just below the $20 mark, while the shares are presently trading slightly above this threshold.

Jacobi Bitcoin ETF launched on Euronext Amsterdam under the BCOIN ticker earlier today, Aug. 15. The ETF gained approval last year in Guernsey but suspended its launch after Terra Luna’s crash collapsed the crypto market. 

‘First’ Bitcoin ETF

Bloomberg’s market analyst James Seyffart pointed out that it was “misleading and just a regulatory arbitrage type of technicality” to describe Jacobi Bitcoin ETF as the first spot ETF in Europe.

According to Seyffart, there are plenty of spot Bitcoin ETPs in Europe already. He added:

“The ETNs/ETCs in europe have SPVs and structures that make them physically backed in most cases. This ETF isnt UCITs & Guernsey is a non-EU country. While its technically correct to say its the first “ETF in Europe”. Its largely marketing.”

Circle Director of Research and Policy Patrick Hansen further buttressed that “E.U. ETFs cannot be used for single assets like bitcoin or gold for regulatory reasons. Guernsey is not part of the EU.” He added:

“ETPs on the other hand (structured as debt securities mirroring BTC) have existed in the EU for years.”

Bitcoin price unchanged

Meanwhile, the spot ETF listing failed to impact BTC’s price. According to CryptoSlate’s data, the asset’s price fell by 0.1% in the last 24 hours and continues to trade below $30,000 as of press time.

BTC’s price performance also reflects the current sentiments in the market, with flagship cryptocurrencies, including Ethereum (ETH), BNB, and XRP struggling during the period.

The post Hotly-anticipated Jacobi Bitcoin ETF sees lukewarm reception on debut appeared first on CryptoSlate.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

EthereumFog (ETF) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 ETF

bitcoin etf jacobi anticipated much generating transaction

Источник: cryptoslate.com

bitcoin etf → Результатов: 126


Grayscale Records Inflows Into Spot Bitcoin ETF For The First Time – Here’s The Best Platform To Trade It

Global asset management company and the world’s largest Bitcoin ETF provider, Grayscale, has recorded new inflows into its Spot Bitcoin ETF, Grayscale Bitcoin Trust (GBTC). This development marks a significant milestone for the popular Bitcoin ETF provider, which has consistently experienced millions of dollars in outflows daily.

2024-5-8 12:00


Фото:

VanEck lead charge as Australia prepares for Bitcoin ETF launch

Australia is poised to join the global trend of countries, including the US and Hong Kong, allowing their citizens to invest in Bitcoin exchange-traded funds (ETFs). ASX to approve Bitcoin ETFs Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the […] The post VanEck lead charge as Australia prepares for Bitcoin ETF launch appeared first on CryptoSlate.

2024-4-29 15:10


Bitcoin ETF Fee Wars Heat Up As Grayscale Mulls Spin-Off; VanEck Slashes Fees To Zero Until 2025

The Bitcoin ETF market has entered a new phase of intense competition as asset managers and issuers strive to attract clients and expand their assets under management (AUM).  Amid this fee war, digital asset manager Grayscale Investments has announced its consideration of a spin-off for its spot Bitcoin exchange-traded fund (ETF), the Grayscale Bitcoin Trust […]

2024-3-13 18:30


Bitcoin ETF Breaks Records: BlackRock’s IBIT Joins Elite ‘$10 Billion Club’ Amidst Soaring Demand

The demand for spot Bitcoin exchange-traded funds (ETFs) has surged since their recent approval on January 10, with BlackRock’s IBIT Bitcoin ETF leading the way. This ETF has reached impressive milestones in less than two months, attracting significant investor interest and opening doors for various market participants to invest in the largest cryptocurrency directly.

2024-3-3 00:30


Will Bitcoin Hit $50,000 Today? Traders Await ETF Decisions as Bitcoin Minetrix Hits Key Presale Milestone

The crypto industry remains poised in anticipation of the approval of the first spot Bitcoin exchange-traded fund (ETF) in the United States. Today, January 10th, is the final deadline for the US Securities and Exchange Commission (SEC) to approve Bitcoin ETF applications, and the whole market is on edge waiting for the decision.

2024-1-10 13:32


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitfinex analysts predict Bitcoin surge as Dollar Index dips

Bitfinex analysts anticipate a bullish second half for Bitcoin as the Dollar Index's decline signals potential growth for the cryptocurrency. The post Bitfinex analysts predict Bitcoin surge as Dollar Index dips appeared first on Crypto Briefing.

Animoca Brands “comes to Bitcoin” with OPAL Protocol

Animoca Brands says Bitcoin is ready for Web3. The blockchain gaming giant will collaborate with Darewise and OPAL Protocol to launch a new era for gaming, DeFi and Web3 on BTC. BLIF, a new token of the OPAL Protocol, will power the ecosystem.

WOO unveils innovation hub focused on Bitcoin’s ecosystem

WOO plans innovation hub expansion to bolster Bitcoin’s ecosystem The new initiative will focus on projects bringing Bitcoin Layer-2s, RWA, DeFi, AI and DePIN to the Bitcoin ecosystem. WOO has announced plans aimed at using its innovation hub and the WOO token to power the next growth chapter for the Bitcoin (BTC) ecosystem.

Норвегия ужесточает контроль над дата-центрами, что вызывает опасения у майнеров биткоинов

Парламент Норвегии (Стортинг) принял новый закон о дата-центрах, который может привести к усиленному контролю над майнерами биткоинов (BTC), работающими в стране. Закон, одобренный 15. 04. 2024, направлен на снижение экологического воздействия дата-центров и продвижение использования возобновляемых источников энергии.