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Early indications show that Europe\u2019s \u201cfirst\u201d Bitcoin (BTC<\/a>) exchange-traded fund (ETF), Jacobi Bitcoin ETF, is not generating much interest as anticipated, as its transaction volume of only four transactions during the first day of its trading.<\/span><\/span><\/p>\n Data<\/a> from Euronext shows that the Jacobi ETF recorded only four transactions, with a volume of 113 as of press time. In addition, the ETF\u2019s price has experienced a marginal 0.1% decline since its initial opening. Notably, the most competitive bid has been observed just below the $20 mark, while the shares are presently trading slightly above this threshold.<\/span><\/span><\/p>\n Jacobi Bitcoin ETF l<\/span><\/span>aunched on Euronext Amsterdam under the BCOIN ticker earlier today, Aug. 15. The ETF gained approval last year in Guernsey but suspended<\/a> its launch after Terra Luna\u2019s<\/a> crash collapsed the crypto market.\u00a0<\/span><\/span><\/p>\n Bloomberg\u2019s market analyst James Seyffart pointed out that it was \u201cmisleading and just a regulatory arbitrage type of technicality\u201d to describe Jacobi Bitcoin ETF as the first spot ETF in Europe.<\/p>\n According to Seyffart, there are plenty of spot <\/span>Bitcoin<\/span> ETPs in Europe already. He added<\/a>:<\/span><\/p>\n \u201cThe ETNs\/ETCs in europe have SPVs and structures that make them physically backed in most cases. This ETF isnt UCITs & Guernsey is a non-EU country. While its technically correct to say its the first \u201cETF in Europe\u201d. Its largely marketing.\u201d<\/p>\n<\/blockquote>\n Circle Director of Research and Policy Patrick Hansen further buttressed that \u201cE.U. ETFs cannot be used for single assets like bitcoin or gold for regulatory reasons. Guernsey is not part of the EU.\u201d He added<\/a>:<\/p>\n \u201cETPs on the other hand (structured as debt securities mirroring <\/span>BTC<\/span>) have existed in the EU for years.\u201d<\/span><\/p>\n<\/blockquote>\n Meanwhile, the spot ETF listing failed to impact BTC\u2019s price. According to CryptoSlate\u2019s data, the asset\u2019s price fell by 0.1% in the last 24 hours and continues to trade below $30,000 as of press time.<\/span><\/span><\/p>\n BTC\u2019s price performance also reflects the current sentiments in the market, with flagship cryptocurrencies, including Ethereum (ETH<\/a>), BNB<\/a>, and XRP<\/a> struggling during the period.<\/span><\/span><\/p>\n The post Hotly-anticipated Jacobi Bitcoin ETF sees lukewarm reception on debut<\/a> appeared first on CryptoSlate<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Early indications show that Europe\u2019s \u201cfirst\u201d Bitcoin (BTC) exchange-traded fund (ETF), Jacobi Bitcoin ETF, is not generating much interest as anticipated, as its transaction volume of only four transactions during the first day of its trading. Data from Euronext shows that the Jacobi ETF recorded only four transactions, with a volume of 113 as of […]<\/p>\n","protected":false},"author":2,"featured_media":137442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-137441","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=137441"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137441\/revisions"}],"predecessor-version":[{"id":148423,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/137441\/revisions\/148423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/137442"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=137441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=137441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=137441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\u2018First\u2019 Bitcoin ETF<\/h2>\n
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Bitcoin price unchanged<\/h2>\n