No German market is closed till Monday
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@Rumen, do you have the exact hour yet?
If not, do you at least know whether BTCE will cease to be available at close of play tomorrow (Tuesday 05/01/2021), or whether there will be some trading the following day (Wednesday 06/01/2021)?
Will this etp have buyers when it comes to selling if bitcoin rises strongly? Its not like an actual stock (shares). Wouldn’t people want the real thing (the actual digital coins) at the time. I don’t know if anyone has given this a thought.
@Team212, I’m begging you. Please don’t put BTCE into close-only mode at some random time before market close tomorrow.
No buying can happen on the 6th legally so that means you have ~3hrs of today, and tomorrow to buy.
I don’t see why they would close it during the day.
Are you waiting for funds to go into your account to buy with?
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Yes, that’s it exactly!
The thing is traded on the German stock exchange so obviously there are buyers
Yeah, the benefit is it can be held in ISA so no CGT to worry over the actual coins.
The downside is if Europe follows suit then that reduces liquidity and you end up with fewer buyers.
Europe won’t follow suit, the asset is in euros. It’s surprising the uk banned it when the company is British
If the whole of Europe stops buying well that pretty much nukes any liquidity
Yeh that’s not gonna happen. That’s an extreme scenario. You could the same about any stock tbf. The Hanetf Bitcoin ETP just passed 250m in assets.
Anyway… you guys will profit much more buying Bitcoin directly from an exchange than through an ETF.
Just open an account on Binance, Coinbase Pro etc
I already hold some BTC on Coinbase Pro. As @phildawson already said, I want some BTCE in my ISA so that, if BTC rises significantly further, I can access it without having to worry about CGT.
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The spread is less on BTCE than an exchange. It’s better to have both.
Interesting. Why is the spread lower, do you think?
Does the spread really matter on long term investments?
where you can check that?
that sounds almost impossible to be honest, actually because you’re not buying BTC, but I’m not 100% sure how these instruments works underneath.
sorry… what is CGT?
CGT = Capital Gains Taxes (ISA 20k annual allowance).
On the exchanges it costs to buy Bitcoin . For example 10k of Bitcoin costs £150 and sell you lost more when you sell. Here the difference between buy and sell is minimal.
Are you talking about fee rate from the exchange.
The fee for a trade of £10,000 would be £10 based on 0.1 maker/taker fee.