Share Tweet Post Share Post Email Early indications show that Europe’s “first” 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 press time. In addition, the ETF’s 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. Jacobi Bitcoin ETF l aunched on Euronext Amsterdam under the BCOIN ticker earlier today, Aug. 15. The ETF gained approval last year in Guernsey but suspended its launch after Terra Luna’s crash collapsed the crypto market. ‘First’ Bitcoin ETF Bloomberg’s market analyst James Seyffart pointed out that it was “misleading and just a regulatory arbitrage type of technicality” to describe Jacobi Bitcoin ETF as the first spot ETF in Europe. According to Seyffart, t here are plenty of spot Bitcoin ETPs in Europe already. He added : “The 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 “ETF in Europe”. Its largely marketing.” Circle Director of Research and Policy Patrick Hansen further buttressed that “E.U. ETFs cannot be used for single assets like bitcoin or gold for regulatory reasons. Guernsey is not part of the EU.” He added : “E TPs on the other hand (structured as debt securities mirroring BTC ) have existed in the EU for years.” Bitcoin price unchanged Meanwhile, the spot ETF listing failed to impact BTC’s price. According to CryptoSlate’s data, the asset’s price fell by 0.1% in the last 24 hours and continues to trade below $30,000 as of press time. BTC’s price performance also reflects the current sentiments in the market, with flagship cryptocurrencies, including Ethereum ( ETH ), BNB , and XRP struggling during the period. Posted In: Bitcoin , ETF Author Oluwapelumi Adejumo Journalist at CryptoSlate Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power. Editor Jacob Oliver Editor / Reporter at CryptoSlate Jacob Oliver is a recovering academic and English teacher who went down the crypto rabbit hole in 2017 after recognizing the technology's potential. Latest Report Jobs, food, and oil: The key drivers that could re-accelerate inflation CryptoSlate's latest market report dives deep into the potential forces that will most likely keep inflation rising in the coming months. Andjela Radmilac · 2 days ago Latest Bitcoin ETF Stories SEC partisan divide could alter Bitcoin ETF approval odds, former SEC attorney predicted Regulation 1 day ago 2 min read BlackRock, Invesco insiders claim Bitcoin ETF approval expected within six months: Mike Novogratz Regulation 7 days ago 1 min read ARK Invest’s Cathie Wood expects delayed Bitcoin ETF decision, but predicts multiple approvals afterwards ETF 1 week ago 2 min read Press Releases // View All Advertise Here Merkel Tree-based Proof of Reserves Data released with New Assets stUSDT and stETH Chainwire 2 hours ago Ethcon Korea 2023: The Ethereum Developer Conference and Hackathon, Now Open for Registration Chainwire 6 hours ago Go!Labs Empowers Global Change Through AI-Powered Engagement and Community Challenges Chainwire 19 hours ago Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article. Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.