Nukkleus Buys 5% Stake In Jacobi To Expose Clients To Bitcoin

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Nukkleus has announced the acquisition of a 5% stake in Jacobi Asset Management. The company, which also operates FXMarkets and FXDD Trading brands, said the deal will help the firm gain exposure to digital assets. Jacobi recently received approval from Guernsey to launch a Bitcoin exchange-traded fund (ETF).

According to the filing with the US Securities and Exchange Commission (SEC), the company bought 20 million stock of Jacobi and has entered into a purchase and sale agreement with the asset manager.

The deal began on Wednesday and both companies are expected to finalize the transaction on Friday. The Nukkleus’ filing also noted that all the sales of securities and offers described in the brochure were made to investors who are already accredited.

It also noted that the firm worked based on the exemptions found in Section 4(a)(2) of the amended Securities Act of 1993.

Nukkleus also stated that no general solicitation or advertising was employed when offering the securities.

More Bitcoin Exposure To The Mainstream

Launched in May 2020, Jacobi was set up by veterans in the finance industry. The main goal of the company is to provide more crypto exposure to the mainstream.

After recently gaining approval for a Bitcoin ETF in Guernsey, the company is now focusing to gain the same approval in other jurisdictions. Nukkleus recently applied for a license in the UK to list its crypto investment product on Cboe Europe.

Apart from its crypto interest, the firm has already established itself in the financial technology world. It offers technology and software solutions to participants in the foreign exchange (FX) industry. Nukkleus is also interested in the partnership and acquisition of other related companies, as demonstrated earlier this year. It completed a 70% all-stock deal in Match Financial with a purchase price worth $9.8 million.

However, this recent investment Nukkleus is coming when the demand for Bitcoin is shooting to the roof. The crypto asset hit a record high level on Wednesday, trading above $65,000.

It also coincides with the listing of the first Bitcoin futures ETF on a US stock exchange, with many experts predicting that the token still has more room to surge in price.

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