# Bitcoin ETF UK/EU
**URL:** https://community.trading212.com/t/bitcoin-etf-uk-eu/85625
**Category:** đŹ Stocks & ETFs requests
**Created:** [June 9, 2025, 5:39am UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625 "2025-06-09T05:39:12Z")
**Posts on this page:** 8
**Page:** 1
### Author:  [@goaty](https://community.trading212.com/u/goaty)
#### Post date: [June 9, 2025, 5:39am UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/1 "2025-06-09T05:39:13Z")
I decided this topic warranted its own post due to some statements in â[Stocks & ETFs requests Help](https://community.trading212.com/t/stocks-etfs-requests-help/49493)â that need updating.
The post states:
> [@Stocks & ETFs requests Help](https://community.trading212.com/t/stocks-etfs-requests-help/49493/1):
>
> ### 2.1. Crypto ETFs & Crypto Assets
>
> â 1. đȘđș đŹđ§ **No crypto ETFs exist in Europe due to UCITS legislation**.
> â 2. đȘđș đŹđ§ In Europe there are crypto ETNs (aka âETPsâ).
> â 3. đȘđș Trading 212 have **crypto ETNs only in their Trading 212 EU platform**.
> â 4. đŹđ§ **UK FCA donât allow crypto ETNs for UK retail investors**.
> â 5. Trading 212 donât have crypto assets in their platforms.
As of 03/06/2025, the Jacobi Bitcoin ETF (BCOIN) (Euronext Amsterdam) is the first Bitcoin ETF in Europe to be approved for both retail and professional investors, following the decision by Guernsey Financial Services Commission (GFSC).
The UK and FCA rules on retail cryptoasset distribution - [COBS 22.6.5](https://www.handbook.fca.org.uk/handbook/COBS/22/6.html) states:
> (1) A firm or TP firm must not:
> (a) sell a cryptoasset derivative or a cryptoasset exchange traded note to a retail client; or
> (b) distribute a cryptoasset derivative or a cryptoasset exchange traded note to a retail client; or
> (c) market a cryptoasset derivative or a cryptoasset exchange traded note if the marketing is addressed to or disseminated in such a way that it is likely to be received by a retail client.
As BCOIN is an ETF, and therefore holds the underlying asset, it would not be classed as a âcryptoasset derivativeâ or âexchange traded noteâ as mentioned in the FCA guidance. Jacobi Bitcoin ETF (BCOIN) should be available to both EU and UK retail investors on Trading 212. It is available on [Interactive Brokers](https://contract.ibkr.info/v3.10/index.php).
The FCA is also proposing to lift the ban on crypto ETNs, see [here](https://www.fca.org.uk/news/press-releases/fca-lift-ban-crypto-exchange-traded-notes).
---
### Author:  [@Dougal1984](https://community.trading212.com/u/Dougal1984)
#### Post date: [June 9, 2025, 6:30am UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/2 "2025-06-09T06:30:51Z")
Sadly your interpretation of the U.K. guidelines is misplaced. The statements are correct, but perhaps could be clearer to help others like yourself.
Itâs the first thing that pops up when doing a quick due diligence search on Google from the company itself
---
### Author:  [@goaty](https://community.trading212.com/u/goaty)
#### Post date: [June 9, 2025, 4:15pm UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/3 "2025-06-09T16:15:21Z")
@RLX what are your thoughts?
You referred to this option as a âloopholeâ [here](https://community.trading212.com/t/btc-etf-on-uk-isa/66439/)
While I donât think itâs exactly a loophole, we now have a Bitcoin ETF approved in Europe. The current FCA rules donât seem to prohibit adding the ETF to the platform.
---
### Author:  [@Dougal1984](https://community.trading212.com/u/Dougal1984)
#### Post date: [June 9, 2025, 9:29pm UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/4 "2025-06-09T21:29:49Z")
> [@goaty](#):
>
> The current FCA rules donât seem to prohibit adding the ETF to the platform.
The manager of the ETF confirms itâs not available to UK investors, very weird marketing strategy that one if you think they and the FCA are wrong.
---
### Author:  [@goaty](https://community.trading212.com/u/goaty)
#### Post date: [June 9, 2025, 10:18pm UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/5 "2025-06-09T22:18:36Z")
Can you find any FCA regulations that prohibit Bitcoin ETFs specifically rather than the ETNs & derivatives?
---
### Author:  [@Dougal1984](https://community.trading212.com/u/Dougal1984)
#### Post date: [June 10, 2025, 6:08am UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/6 "2025-06-10T06:08:47Z")
Yes if you understand the legal documents. In short the FCA consider ETF, ETP and ETNs as comparable products, however the FCA are currently under a period of consultation which in the simplest terms are considering to relax the rules as investors are simply finding other means to buy crypto and we lag behind other countries in means to do so.
\*This is not legal advice, I am just aware of some circles that are trying to change them.
---
### Author:  [@goaty](https://community.trading212.com/u/goaty)
#### Post date: [June 10, 2025, 5:02pm UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/7 "2025-06-10T17:02:44Z")
The wording in COBS 22.6.5 explicitly prohibits ETNs and derivatives as opposed to physically backed ETFs.
> [@Dougal1984](#):
>
> In short the FCA consider ETF, ETP and ETNs as comparable products
Can you link me to FCA documentation that confirms this?
Also, the image from Google you referenced appears to be an outdated index. A Ctrl+F on the site doesnât appear to have that same text.
---
### Author:  [@RLX](https://community.trading212.com/u/RLX)
#### Post date: [June 16, 2025, 6:34am UTC](https://community.trading212.com/t/bitcoin-etf-uk-eu/85625/8 "2025-06-16T06:34:07Z")
UCITS legislation doesnât allow ETFs with single-asset portfolios, thatâs why there arenât EU-domiciled single-asset ETFs in EU space for retail investors.
From a crypto ETP issuer leader:
> ETFs are subject to the EUâs Undertakings for Collective Investment in Transferable Securities (UCITS) regulation because theyâre typically funds holding diversified portfolios. **ETCs arenât classified as funds, so they can track a single underlying asset like bitcoin, and they donât fall under the UCITS framework**.
> **[Understanding the Difference Between Spot Bitcoin ETFs and Physical Bitcoin ETPs](https://coinshares.com/corp/insights/knowledge/understanding-the-difference-between-spot-bitcoin-etfs-and-physical-bitcoin-etps/)**
>
> This article explains how bitcoin ETFs and ETPs differ despite both offering retail investors the opportunity to add bitcoin exposure to their portfolios.
* * *
So far FCA doesnât allow crypto indirect vehicles for UK-resident retail investors, such as ETNs and derivatives. There are recent rumors (including FCA proposals) on possible changes on lifting the FCA position on crypto ETNs and derivatives, but are just that, rumors. No official changes until now.
Trading 212, at the moment, only offers crypto ETNs on their EU platform for non-UK residents (and non-Trading 212 UK platform customers).
* * *
About the mentioned âBitcoin ETFâ, their site shows the following warning:
> **[Jacobi FT Wilshire Bitcoin ETF - Jacobi Asset Management](https://jacobiam.com/jacobi-ft-wilshire-bitcoin-etf/)**
>
> Jacobi FT Wilshire Bitcoin ETF | Jacobi is Europe's first regulated Bitcoin ETF, providing investors safe access to digital assets | Jacobi Asset Management
page 6 - Prospectus (Scheme Particulars) As of 03/06/25
> **[Jacobi-JUNE-2025-SCHEME-DOCUMENT.pdf](https://jacobiam.com/wp-content/uploads/2025/06/Jacobi-JUNE-2025-SCHEME-DOCUMENT.pdf)**
>
> 558.17 KB
**â So according the ETP distributor âJacobi Asset Managementâ own information, this ETP isnât allowed to UK and EU retail residents investors and not allowed to US residents. It is only allowed to Professional Clients.**
Morningstar, the world-leader research platform for funds mentions that this ETP is structured as â **Legal Structure Collateralized Debt Instrument** â, the same structure for the other crypto ETNs. Probably a Morningstar typo or not?
> **[Fund Manager| |Jacobi FT Wilshire Bitcoin ETF|ISIN:GG00BMTPK874](https://www.morningstarfunds.ie/ie/etf/snapshot/snapshot.aspx?id=0P0001S4JP&tab=4&InvestmentType=FE)**
>
> :
After some **Due Diligence** , this ETP manager/advisor âSigma Asset Management (Guernsey) Ltdâ lack a bit of transparency to say the leastâŠ
After just seeing some information about this ETP and the legal entities related to it, my answer will be just this one:
**Caveat Emptor!**
**â Bottom-line: No need to update the topic â[Stocks & ETFs requests Help](https://community.trading212.com/t/stocks-etfs-requests-help/49493), due that there arenât any official modification.**