Jacobi Asset Management – a multi-asset investment platform from London – reportedly managed to obtain a go-ahead from the Guernsey Financial Services Commission (GFSC) for a Bitcoin ETF. 

Specifically, Jamie Khurshid – Head of Jacobi Asset Management – reportedly shared that the regulatory green light will go a long way in making it more secure for corporations and institutions to set foot in Bitcoin investments, steering clear from the risks usually coming with the technology and counterparties.

Jacobi Bitcoin ETF will reportedly function as a centrally cleared, crypto-backed financial instrument, which receives the backing from Bitcoin custody provided by Fidelity Digital Assets.

The greenlight granted by GFSC will reportedly make it possible for investors to begin trading Jacobi Bitcoin ETFs on traditional stock markets throughout “all jurisdictions outside of America and others with similar restrictions.”

Khurshid – who previously worked as a Goldman Sachs investment banker – reportedly emphasized that the funds are “centrally cleared with securities held at the leading central securities depository (CSD)” – a process having some resemblances to typical asset managers.

“We have feeder funds being set up around the world that will be investing solely in Jacobi Bitcoin ETF to service their domestic demand.” Khurshid additionally addressed investors throughout the authorized jurisdictions. 

The firm reportedly has further plans down its pipeline to finalize the listing of the Jacobi Bitcoin ETF on the Cboe Europe equity exchange, which still has not been able to acquire a listing greenlight from the Financial Conduct Authority (FCA), a financial regulator in the United Kingdom.