Home ยป Ripple CBDC Advisor Applauds Europe’s First Bitcoin Spot ETF Launch

Ripple CBDC Advisor Applauds Europe’s First Bitcoin Spot ETF Launch

Anthony Welfare, a CBDC advisor for Ripple, has expressed approval as Europe introduces its inaugural Bitcoin spot ETF.

by coinbrit
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London-based Jacobi Asset Management has successfully launched the Jacobi Bitcoin ETF on Euronext Amsterdam after nearly two years of approval processes. This event marks Europe’s first spot Bitcoin exchange-traded fund, providing investors access to a product secured by actual Bitcoin holdings.

Significant European Milestone

The introduction of the spot Bitcoin ETF holds great significance for Europe, especially considering the United States’ delay in approving similar proposals by major players like BlackRock and Fidelity. This milestone indicates Europe’s proactive stance on embracing cryptocurrency-related financial products.

U.S. Awaits Spot Bitcoin ETF Approval

While Europe advances, the U.S. faces delays in reviewing the ARK 21Shares Bitcoin ETF proposal, with further reviews expected in September. The crypto industry’s anticipation for a spot-Bitcoin ETF continues, with optimism from figures like Cathie Wood, CEO of ARK Investment Management, suggesting the possibility of multiple spot Bitcoin ETF approvals simultaneously.

Positive Market Impact

Sanford C. Bernstein analyst Gautam Chhugani noted in a recent report that the prospects of a spot Bitcoin ETF have heightened. If the U.S. permits direct BTC investment through a fund, exchange-traded funds could constitute 10% of Bitcoin’s market value within three years, as estimated by Sanford C. Bernstein research.

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