Bitcoin

<div class="sg-post-des">
 Jacobi FT Wilshire Bitcoin ETF has been defined as an Article 8 fund by its issuer firm. 
</div>
<div class="cointelegraph">
 The first-ever spot Bitcoin exchange-traded fund (ETF) launched on the European market has been <a rel="dofollow" title="classed" href="https://thebittimes.com/tag/classed.html">classed</a> as an Article 8 fund by its <a rel="dofollow" title="issuer" href="https://thebittimes.com/tag/issuer.html">issuer</a> firm, London-based Jacobi Asset Management. Funds included under Article 8 of the European Sustainable Finance Disclosure Regulation (SDFR) are those that “promote <a rel="dofollow" title="environmental" href="https://thebittimes.com/tag/environmental.html">environmental</a> and/or social characteristics.”&nbsp;
 On Aug. 29, Bloomberg reported that Jacobi Asset Management had classified its Jacobi FT Wilshire Bitcoin ETF as an Article 8 fund. The fund, launched on the Amsterdam stock exchange on Aug. 15, becomes the first Bitcoin ETF traded in Europe, and the first to have the European Union’s <a rel="dofollow" title="environmental" href="https://thebittimes.com/tag/environmental.html">environmental</a>, social and governance <a rel="dofollow" title="investing" href="https://thebittimes.com/tag/investing.html">investing</a> rules applied.
 Related: Hashdex joins race for spot Bitcoin ETF with unique strategy
 The report cites Martin Bednall, the CEO of Jacobi, who is calling the ETF “fully decarbonized” for its partial investments in renewable energy certificates (RECs). However, academic experts, questioned by journalists, pose the obvious contradiction — with Bitcoin’s mining energy intensity, the ETF should purchase such a high amount of RECs that it would not only match but exceed the volume of energy, consumed by its BTC assets. 
 Jacobi FT Wilshire Bitcoin ETF went live on Aug 15, on the Euronext Amsterdam stock exchange more than a year later than its planned launch in 2022. The introduction was promoted as the primary spot, or physically-backed, Bitcoin fund, providing investors with an opportunity to access a financial product supported by actual BTC.
 From the outset, Jacobi Asset Management emphasized the eco-friendly nature of the ETF. The fund uses outside information to calculate how much energy the Bitcoin network uses. It then purchases and "retires" RECs. These certificates are tracked on a blockchain service, which is designed to let investors confirm the fund's environmentally friendly statements.
 Magazine: Bitcoin ‘supercomputer’ and BTC DeFi coming soon
 <template data-name="subscription_form" data-type="law_decoded"></template>
</div>
Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/jacobi-spot-bitcoin-etf-classed-as-environmental-investing-by-issuer-tbt60761.html">https://thebittimes.com/jacobi-spot-bitcoin-etf-classed-as-environmental-investing-by-issuer-tbt60761.html</a>

Jacobi spot Bitcoin ETF classed as ‘environmental investing’ by issuer

TheBitTimes

Other articles published on Aug 29, 2023

Ben Armstrong No Longer a Part of Bitboy Crypto; BEN’s Price Plummets

CoinDesk retracts two articles citing ‘standard’ issues

Dogecoin (DOGE) Development Picks Up Pace – Key Levels to Watch for Continued Momentum

Velodrome Launch New DEX Aerodrome on Base, Airdopping $AERO token to veVELO Holders

SEC Files Sealed Motion Against Binance Exchange

John E. Deaton Sheds New Light on Ripple vs. SEC with 2018 Memo Disclosure

Join our free newsletter for daily crypto updates!