Jacobi Asset Management, a London-based multi-asset investment platform, received approval from the Guernsey Financial Services Committee (GFSC) to launch a Bitcoin (BTC) commutation-traded funds (ETF).

Speaking to Cointelegraph, Jacobi Asset Management CEO Jamie Khurshid said that the regulatory clarity helps corporations and institutions to become involved in Bitcoin investments safely without all the risks associated with the engineering and counterparties.

Co-ordinate to an official statement, Jacobi Bitcoin ETF is a centrally cleared, crypto-backed financial musical instrument that is supported by Bitcoin custody provided by Allegiance Digital Assets.

The approval from GFSC allows investors to merchandise Jacobi Bitcoin ETFs on traditional stock markets across "all jurisdictions exterior of America and others with similar restrictions."

Khurshid, who is also a one-time Goldman Sachs investment banker, highlighted that the funds are "centrally cleared with securities held at the leading cardinal securities depository (CSD)," a procedure familiar to traditional asset managers. Addressing investors across the authorized jurisdictions, Khurshid said:

"We have feeder funds being ready upwards effectually the globe that will exist investing solely in Jacobi Bitcoin ETF to service their domestic demand."

Moreover, the company intends to list the Jacobi Bitcoin ETF on the Cboe Europe equity exchange, which has even so to be granted list approval by Financial Conduct Authority (FCA), a financial regulator in the U.k..

Related: Regulating crypto could give it 'halo' of legitimacy, says UK watchdog

On Sept. 6, Charles Randell, chair of the FCA and Payments Systems Regulator, raised concerns about the lack of hazard sensation among crypto investors in a speech written for the Cambridge International Symposium on Economic Crime.

Randell highlighted the role of influencers such as Kim Kardashian promoting unverified tokens on Instagram, which co-ordinate to him could potentially mislead underinformed investors. "Why should we regulate purely speculative digital tokens? Volition the involvement of the FCA give them a 'halo result' that raises unrealistic expectations of consumer protection?"

On the other hand, the United States Securities and Commutation Commission has taken a proactive approach to let ETF offerings on traditional exchanges. Crypto fiscal services company Bakkt will become the latest company to be listed on the New York Stock Exchange, nether the ticker symbol "BKKT."