10/15, 7:41 PM (Source: TeleTrader)
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Approval given for world first Bitcoin ETF

Jacobi Asset Management announced on Friday that it got approval from the Guernsey Financial Services Commission (GFSC) to launch the world's first tier-one Bitcoin exchange-traded fund (ETF).

The company said that its Jacobi Bitcoin ETF has been provided custody by Fidelity Digital Assets. Furthermore, Jacobi noted that it plans to list its Bitcoin ETF on Cboe Europe, which is subject to final approval by the United Kingdom Financial Conduct Authority (FCA).

Jacobi CEO Jamie Khurshid commented on the development: "We are excited to be launching a new secure, transparent and accessible product to track the performance of Bitcoin. This is an exciting moment for Europe as regulatory approval comes ahead of those waiting for a decision from the U.S. Securities and Exchange Commission."

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