Europe’s first Bitcoin ETF receives ESG label
Jacobi Asset Management declares its Bitcoin ETF as an ESG-compliant fund under EU rules. Europe’s first Bitcoin exchange-traded fund (ETF) has been declared as an Article 8 fund by its issuer, marking a bold intersection of cryptocurrency and ESG (environmental, social, and governance) investing. By receiving this designation, the fund is legally obligated under European Union rules to advance ESG causes. Jacobi FT Wilshire Bitcoin ETF joins a diverse portfolio of Article 8 financial products, a category which, according to Bloomberg, encapsulates roughly $6 trillion in assets. Breaking new ground in applying ESG rules to crypto The news marks a shift in how ESG standards are applied within the financial landscape. Until this announcement, there had been no instance of a Bitcoin ETF being positioned as an ESG-compliant fund based on EU guidelines. Martin Bednall, the CEO of Jacobi Asset Management and a BlackRock alum, has conveyed to investors that the ETF aims for full decarbo...