Bitcoin ETP (BTCE) closure

Hi,

The latest announcement that the Bitcoin ETP has been placed in close-only mode states that “all existing positions can be closed at any time”.

Does this mean shareholders (us) can close positions at any time, Trading212 can close positions at any time, or both?

Regards,
Tom

2 Likes
1 Like

It’s silly as I was looking on the long term at this in the hope to rise big bit now reluctant to keep it

@Tom214 Trading 212 will not be tinkering with your positions. You can close them whenever you’d like - you just won’t be able to open new ones.

4 Likes

@David thanks for clarifying

@David thanks that’s very helpful clarification. I spoke with the FCA yesterday and they do not have the remit to request closing positions and selling out of open positions. For protection of retail investors they banned trading crypto-derivatives.

I’m glad to hear you won’t be closing or tinkering with our position. I’m likely to stay with trading 212 for the long term if that is the case.

If trading 212 tinkered or sold my position I would have moved my ISA account to HL and used Gemini to trade bitcoin.

Again T212 have made a solid decision of not tinkering with our current positions!

Thank you,
Bash

1 Like

Why has it closed early today?

It’s not showing trading times either

German markets are only open for half a day today

1 Like

Thanks I didn’t see that in the communications they sent out

The issue with this ETP is you can only close it during German market hours. Its closed today.

@Mcmalloch Look at the posts above yours.

I have Bitcoin ETP in one of my investment pies but obviously I can’t use auto invest anymore on that instrument.

If I delete it from my pie, does it keep my current positions but just no longer in the pie, or will it sell what is in my pie in order to delete it? (I have some in the pie and some out of it).

Thanks in advance for any info!

My bad, apologies. Too much excitement over BTC.

you can removed a slice from being an active part of your autoinvest distribution, without having to move the shares outside of your pie and sell them. however if you ever rebalance or try to withdraw funds from the pie, these shares may be sold in order for you to do so, so it is possibly best to export the shares to their own pie and label it “do not sell” :wink:

1 Like

Great advice, thanks :grinning: