Dream Come True, Europe Launches Its First Spot BTC ETF!

<p>&nbsp;"The SEC seems to be a little open-minded with spot BTC ETFs."</p><p><br /></p><p>After 12 months behind schedule, Jacobi Asset Management has finally launched Europe's first Bitcoin (BTC) exchange-traded fund (ETF) on the Euronext Amsterdam exchange.</p><p><br /></p><p>This is because the cryptocurrency market is currently buzzing with BTC ETF applications after the world's largest financial giant BlackRock recently filed a BTC ETF spot application.</p><p><br /></p><p>It is understood that Jacobi, who acted after the Securities and Exchange Commission (SEC) recognized Bitwise's application for the spot BTC ETF, has decided to launch an ETF instead of an ETN as it is more transparent and liquid than an ETN.</p><p><br /></p><p><br /></p><p>The SEC approving the Bitwise spot BTC ETF application is very important for the crypto market as it will attract more investors to the digital asset, but it should be noted that the SEC has not yet approved the ETF.</p><p><br /></p><p>This is because the regulator is now starting a formal review process such as a comprehensive examination of the proposal and if the Bitwise spot BTC ETF is approved, it will allow investors to buy BTC easily and safely.</p><p><br /></p><p>The likelihood of regulators approving Bitwise's application is very high as the Chicago Mercantile Exchange (CME) has already met the SEC's requirements in providing a transparent and regulated platform for BTC futures trading.</p><p><br /></p><p>Back to the original news, Michael O'Riordan who is a partner of Blackwater Search and Advisory believes that launching a BTC ETF in Europe will be very challenging because it is not considered an eligible asset under the Ucits rules.</p>