Guernsey regulator approves Bitcoin ETF of Jacobi firm

Jacobi asset management firm got approval for its Bitcoin ETF product by the Guernsey regulator. 

Jacobi is a London based assets management firm. This firm is inclined in multiple types of asset class management. And this firm successfully and easily got approval for their application of the Bitcoin exchange traded fund product by the regulators of London. 

According to the official announcement, the Bitcoin ETF product of Jacobi will be bitcoin backed financial services for the Jacobi clients. And the custody of the bitcoin will be provided by the Fidelity Digital assets firm. 

As per approval, the Bitcoin ETF of Jacobi will be available to trade officially on the stock market all over the “jurisdictions outside of America and others with similar restrictions.”

In an interview with the cointelegraph, Jamie Khurshid, CEO of Jacobi fund management firm, said that such success to offer Bitcoin backed products will bring huge regulatory clarity for the public and it will push the involvement of individuals and companies to invest in Bitcoin. 

Jamie noted that the  approval for the Bitcoin ETF for Jacobi is “centrally cleared with securities held at the leading central securities depository” to ensure the nature of bitcoin like other traditional assets and further added 

“We have feeder funds being set up around the world that will be investing solely in Jacobi Bitcoin ETF to service their domestic demand.”

Now, Jacobi is eyeing to list the Bitcoin ETF on the Cboe Europe equity exchange. For this they have to go through the regulatory approval by the financial conduct authority. 

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