Grayscale Bitcoin Trust (OTCMKTS:GBTC)

@Finki, help me out as I am dense as a post and cannot recall which was the final gate of US ETFs in UK/EU markets; is it KIID, UCITS compliance, or both?

I hate bitcoin, but the above ETF has me stroking my chin. Don’t like the charges, but I hate the process of withdrawing bitcoin even more!

I’m not getting my hopes up but these guys have a KIID but I think we’re scuppered as I can’t find any evidence of UCITS compliance, which makes me think it’s not there (the ticker also feels like a bit of a giveaway!)… can you help?



PS. I’m surprised I’m the first to post about this. Expect this to be the new ARKK request everyone… apologies in advance! :grimacing:

It’s actually part of ARKF :wink:

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Don’t want defocus your topic… but I’m curious to know what are yours problems with the thing that will save the human race? :innocent:

My problem is my lack of savvy with it! :wink: Don’t get the tech of it at all - wallets, withdrawing and how that works… doesn’t feel like a smooth process at all. Hurts my head.

Hopefully by the time it replaces normal currency it’ll be a lot simpler to move.

Sorry Mr F been busy and just seeing this now

Where is the KID for that GBTC? I scanned the website for 30 seconds and didn’t see it.

I know almost zero about bitcoin but I thought the “problems” you described were magically circumvented a few months ago when HANetf lauched their BTC offer…

Re: What stops them coming into Europe - it’s the lack of KID/KIIDs. Technically KIIDs are required by MiFID. KIDs are required by PRIIPs. UCITs compliant funds will sit in both camps. Confused? Yeah. The rest of the world too. Then to confuse even more - NURS (non-UCITS funds) also produce KIIDs.

NURS KIIDs tend to look like this in format…

“Normal” (UCITS) look almost exactly the same

PRIIPs cover a different range of assets (ETCs, ITs etc…) and look a little different in format…note the increase in info…transaction costs for example

But… in short… to your question… what is the reason : KIIDs/KIDs…because of MiFID and PRIIPs

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My mistake. KID (PRIIPS) , not KIID.

And thanks, I only knew about Grayscale and one other fund I forget the name of.

That’s the first time I have seen a US asset create a KID. Super weird. I mean it looks legit… but producing a singular KID is not the end of their responsibilities… so I have to say I fear for your chances of getting this on T212. For 1 it’s OTC which is somewhat more problematic for some providers to access. It is an IT though not an ETF. I dunno. Some brokers also insist on an EMT and a method of receiving this data on a frequent basis. But I’m stumped on this one. I’d still say why bother when you can buy the HANetf version easier?? But, as I said, I know nothing on BTC so can’t say whether or not they are comparable.

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Yeah this is like the perfect storm of things I know very little about and the irnoy is I was hoping it was a SOLUTION!

@David, ol’ buddy, you able to jump in and advise IF this is even possible to add or if there are barriers?

Same question for the HANetf (BTCE) please.

HANetf looks fine. Complies. Trades on Xetra - which seems OK for T212 but isn’t yet ISA compliant (let’s face it it won’t probably ever be!)

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