Anthony Welfare, a Ripple CBDC adviser, has applauded the introduction of a new Bitcoin spot ETF in Europe.
With the launch of the Jacobi Bitcoin ETF on the Euronext Amsterdam stock market, Europe now has a new Bitcoin spot ETF.
The first spot Bitcoin exchange-traded fund (ETF) in Europe has been launched on Euronext Amsterdam by London-based Jacobi Asset Management, nearly two years after its approval.
Investors would have access to a financial instrument that is backed by Bitcoin through the spot, or physical-backed, Bitcoin fund.
Given that U.S. authorities have not yet approved multiple similar spot Bitcoin ETF proposals, such as those from BlackRock and Fidelity, the introduction of the spot Bitcoin ETF represents a big step forward for Europe.
When informed about the debut of the Bitcoin Spot ETF, lawyer and founder of CryptoLaw John Deaton said, “Meantime in the United States.”
Bitcoin spot ETF in U.S. awaits approval
The crypto sector is still waiting for a spot-Bitcoin ETF after the U.S. Securities and Exchange Commission postponed its decision to consider the ARK 21Shares Bitcoin ETF proposal during the last week. In September, further applications will be examined.
The CEO and CIO of ARK Investment Management, Cathie Wood, is optimistic and believes that the U.S. Securities and Exchange Commission will simultaneously approve a number of spot Bitcoin ETFs.
In a study published on Monday, Sanford C. Bernstein analyst Gautam Chhugani said that there is now a higher chance of seeing a spot Bitcoin ETF.
If the United States approves a fund that invests directly in BTC, exchange-traded funds may account for 10% of the market value of Bitcoin within three years, according to a Sanford C. Bernstein research estimate.
