Fintech giant Nukkleus Inc. announced today that it plans to increase its stake in Jacobi Asset Management, the sponsor of Europe’s only Bitcoin spot ETF, to about 20%.

The move is part of Nukkleus’ strategy to expand its presence in the innovative financial markets, leveraging its expertise in blockchain and digital asset management.

Nukkleus has signed a Memorandum of Understanding with Jacobi, giving it the option to acquire an additional 16% of the company, as well as the right of first refusal. The deal is subject to due diligence and final agreements.

“Increasing our stake in Jacobi Asset Management is a strategic move that aligns with Nukkleus Inc.’s vision of pioneering in the fintech industry. This investment underscores our commitment to leveraging innovative financial tools like blockchain and digital assets to transform and democratize the global financial landscape. We are not just keeping pace with the future of finance; we are actively shaping it to be more accessible, efficient, and inclusive,” said Emil Assentato, CEO and Chairman of Nukkleus.

Martin Bednall, CEO of Jacobi Asset Management commented: “We are excited by the prospect of deepening our relationship with Nukkleus through this MOU, supporting the growth of Jacobi. This step symbolizes our mutual commitment to innovation in the fintech sector. The potential increase in Nukkleus’ stake in Jacobi marks a significant milestone towards collaborative development and the advancement of regulated financial solutions in the market.”