Nukkleus enters booming crypto ETF space with 5% stake in Jacobi

Rick Steves

Jacobi is one of the first companies to offer Bitcoin through mutual funds in Europe. Most regulators restrict cryptocurrencies from being directly held in funds. Crypto-linked funds may be a workaround. 

Nukkleus Inc has acquired a 5% interest in Jacobi Asset Management Limited for an eight figure sum, the firm announced.

Jacobi has recently received regulatory approval from the Financial Services Commission (GFSC) in Guernsey to launch a tier one Bitcoin ETF.

If approved, Jacobi will be one of the first companies to offer Bitcoin through mutual funds in Europe. Most regulators restrict cryptocurrencies from being directly held in funds. Crypto-linked funds may be a workaround.

Nukkleus is well established within the crypto industry. The firm is spearheaded by Chief Operating Officer Jamie Khurshid, former Goldman Sachs leader and veteran of financial markets regulation, and founder of Match Financial, Digital RFQ, and the very own Jacobi Asset Management.

At the helm of Nukkleus is chief executive Emil Assentato, a Wall Street veteran with over 30 years of experience in the financial services firm. He was a founding shareholder of FXDD in 2002.

Emil Assentato, Chief Executive Officer at Nukkleus, said: “Jacobi Asset Management is leading the way towards greater mainstream investment in Bitcoin in a way that is safe, secure and familiar to institutional investors. Given our belief in the promising future for digital assets and our faith in Jamie Khurshid’s track record, taking a share in Jacobi is a logical and positive next step for Nukkleus.”

By acquiring the 1/20 stake in Jacobi, the potentially first tier one Bitcoin ETF will become a part of the Nukkleus family, thus launching the firm into regulated exchange-traded crypto assets.

The crypto ETF scene is one of the most dynamic at the moment in the digital asset space. Purpose Investments has just filed a preliminary form with the Canadian securities regulators as it plans to launch actively managed cryptocurrency ETFs.

The proposed cryptocurrency ETFs are three: Purpose Crypto Opportunities ETF, Purpose Bitcoin Yield ETF, and Purpose Ether Yield ETF.

This follows the recent launch of Purpose Bitcoin ETF and Purpose Ether ETF, the world’s first Bitcoin ETF and Ether ETF, respectively, earlier in the year.

Purpose will also be launching the Purpose DeFi Opportunities Fund as a privately offered fund focused on providing exposure to the growing opportunities in decentralized finance and the unique DeFi investment universe.

The Bitcoin Futures ETF Valkyrie will be listed on the NASDAQ under the ticker BTF, on Friday. This will be the first crypto-native ETF to be listed in the US after the go-ahead from the Securities and Exchange Commission (SEC).

Read this next

Industry News

21 Republican representatives want to “End the Fed”

“Americans are suffering under crippling inflation, and the Federal Reserve is to blame.”

Retail FX

Scope Markets launches unleveraged trading

“Whilst our traditional contract for difference (CFD) products continue to prove incredibly popular, the Invest account is unleveraged and only allows ‘long’ positions to be taken, a combination that significantly reduces the risk of capital losses.”


Unlocking Profit Potential: Earn Returns with DecodeEX Experience Bonus!

DecodeEX, the innovative brokerage subsidiary of Decode Global, announced its experience bonus campaign, offering every user the opportunity to maximize their strategic trading potential with up to $10,000 in experience bonus. 

Market News

Pretiorates’ Thoughts 28 – Precious metals and base metals out of control

Ten days ago we mentioned in Pretiorates’ Thoughts 26: Chapter 2 should start with Precious Metals.

Retail FX

Webull launches discount brokerage in Malaysia

“Making investing more inclusive and accessible to all, Webull Malaysia brings best-in-class tools and information to empower investors of all levels with knowledge and skills to help them make better investment decisions and achieve their investment goals.”

Digital Assets

Hidden Road adds OKX’s Nitro Spreads into prime brokerage

“Hidden Road continually seeks to increase market access and capital efficiency through expanded prime brokerage offerings. Integrating OKX’s Nitro Spreads product builds upon this philosophy by extending our counterparties’ ability to execute risk-managed arbitrage strategies.”


Dev Release 31: BlockDAG’s SHA-3 Upgrades Propel Crypto Mining Innovation as Miner Sales Approach 5800 Units

Learn about BlockDAG’s 31st Development Release, which includes advanced SHA-3 updates and a significant increase in miner sales, driving advancements.


BlockDAG Dominates 2024 Crypto Trends: Surpasses $28M in Presales Amid Strategic Partnerships

Explore BlockDAG, Shiba Inu, and Kaspa Killer’s rise in 2024’s crypto market, focusing on BlockDAG’s $28M presales, strategic partnerships, and innovative technology.


BlockDAG’s $30 by 2030 Valuation Prediction and Roadmap Reveal Gains Traction From Filecoin and XLM Investors

Discover why BDAG’s $30 price prediction by 2030 outshines Filecoin Investors’ hopes and XLM’s recent surge with a booming presale and clear roadmap.