Jacobi launches sustainable Bitcoin ETF in Europe

The European market has seen a game-changing move in the realm of cryptocurrency, with London-based Jacobi Asset Management launching the first-ever spot Bitcoin exchange-traded fund (ETF).

This extraordinary accomplishment has gotten a lot of attention, not just because of its novel approach to bitcoin investment, but also because of its devotion to sustainability.

The Jacobi FT Wilshire Bitcoin ETF is distinguished by its designation as an “Article 8” fund under the European Sustainable Finance Disclosure Regulation (SFDR). Article 8 funding is acknowledged for its efforts to promote environmental and/or social values.

This classification marks a watershed moment in the alignment of digital assets with environmental and social responsibility.

Martin Bednall, the CEO of Jacobi, proudly proclaims the ETF as “fully decarbonized,” owing to deliberate investments in renewable energy certificates (RECs).

However, academic authorities have raised their eyebrows, pointing out the apparent discrepancy.

Bitcoin mining is infamous for consuming a lot of energy, and the ETF’s substantial REC purchases may exceed the energy consumption of its BTC assets.

The Jacobi FT Wilshire Bitcoin ETF went live on the Amsterdam stock exchange on August 15.
This launch was a noteworthy milestone, coming more than a year after it was originally scheduled to appear in 2022.

Also Read

Solana Pay integrates with Shopify to offer USDC payments

Solana Labs has announced its decentralized payment mechanism, Solana Pay, as well...