Bitcoin ETF finds home - not in the U.S, but...
According to experts, these disastrous events prompted Jacobi to proceed with caution in launching its Bitcoin ETF. It will be out soon with the BCOIN ticker.
The asset management firm is collaborating with Fidelity Digital Assets to offer asset custody services to its users. It is also partnering with Flow Traders and DRW to allow the trading of the ETF on the exchange.The report stresses upon a significant factor underlying the nature of Bitcoin. So far, all digital assets exchange traded products in Europe have been structured as exchange traded notes , rather than funds .
ETF shareholders own a portion of a fund’s underlying shares. However, an ETN shareholder owns a portion of debt security, not the underlying asset itself.There has been so much misinformation and misuse of the term ETF by [ETN] issuers, presumably to obfuscate the risks that are inherent in acquiring and investing in ETNs.
Jacobi has strongly underlined the fact that the firm is launching a ETF, rather than an ETN. The firm stated that its ETF, unlike ETNs, cannot be leveraged or use derivatives, which could otherwise result in “significant counterparty risk.”In the U.S., the U.S. Securities and Exchange Commission recentlySeveral major financial firms, including
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