The London-based asset management company Jacobi announced today the listing of the first Bitcoin Exchange Traded Fund (ETF) on Euronext Amsterdam.
The trading symbol for the Jacobi FT Wilshire Bitcoin ETF is BCOIN. The fund charges investors an annual management fee of 1.5%.
The company emphasizes that as an open-end fund, its Bitcoin ETF is different from traditional Exchange Traded Notes (ETN). ETN is the most widely used structure for cryptocurrency financial products in Europe to date.
A key difference between ETN and ETF lies in the ownership structure and investment nature. In the case of ETFs, shareholders hold equity in the underlying assets held by the fund. On the other hand, ETN investors hold a debt security.
ETFs do not use leverage or financial derivative instruments, which helps mitigate potential risks associated with market manipulation. In contrast, ETNs may use leverage or derivatives, introducing additional risks.
Today's Market
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