Europe Launches its First Bitcoin ETF
Europe's first green-friendly bitcoin ETF, BCOIN, has started. Managed by Jacobi, it lets people invest safely while following eco-friendly rules.
Jacobi Asset Managementintroduced a green-friendly bitcoin fund. This fund follows Europe's rules for being good for the environment and society.
They first wanted to start this fund in July 2022. This means it's been waiting for over a year to begin.
Europe's first bitcoin ETF starts on Euronext Amsterdam.
The ETF, known by the short name BCOIN, is watched by the Guernsey Financial Services Commission. Fidelity Digital Assets keeps the fund safe, while other companies help in trading.
The fund began its work on Aug. 3 with money from early investors, the CEO of Jacobi shared.
The fund has a special Renewable Energy Certificate (REC). This proves that they use green energy. The fund checks how much energy their bitcoins use and buys green energy to balance it. People can check this green energy proof online.
The fund uses a special index to know the bitcoin price. It gets this price from trusted places where bitcoin is sold.
An ETF like BCOIN lets people invest in bitcoin without buying it themselves. This is different from other bitcoin investments that can be riskier.
The US has allowed some bitcoin investments but not this kind. They worry about cheating and wrongdoings in the market.
The CEO said it's great to see Europe allowing this kind of bitcoin investment before the US. It helps big investors use familiar and safe ways to invest in digital money.
