Shocked this is not available, is there some issue with ISA / FCA rules or has it just got completely overlooked?
I sold some of my own wallet BTC with a view to buying IBIT instead and got a nasty surprise when I wen to buy and found itās look only on hereā¦
please add IBIT
I think you already know why itās not here or on any other broker so not really a nasty surprise tbh.
Are there plans to add IBIT once the FCAās ban on retail investors purchasing crypto ETN products is lifted on 8 October??
Since I noted BlackRock is expected to try to list the iShares Bitcoin ETP in London before 8 October so that retail clients can invest in the fund when an FCA ban ends.
There are a few options out there, some currently with 0% OCF to grow the initial AUM.
Since the FCA ban only ends on 8th October I donāt know what you mean. Doesnāt really answer the question on whether T212 have plans to make the LSE listing of IBIT in GBP available on or soon after 8th October.
What I meant by a few options, is that there are already several Bitcoin ETNs listed on London Stock Exchange (a recognised exchange), that hopefully 212 add for us.
By 0% OCF, OCF means Ongoing Charge Figure. Itās the fee that it costs to hold an ETF and includes things like the management fee which is what the creator of the ETF/ETN charge for running the product. Itās included in the market price of the ETF/ETN, so you might not be aware of it.
The reason some companies opt for an initial low/zero OCF is to help encourage people to buy and bring its size up to scale, then removing the rebate and increasing the OCF later.
Hope this helps.
Thanks, thatās clear. Would be nice if T212 gives us a heads up which ones they will add once the listing rules change on LSE.
This would be helpful of T212. Iāve just completed and passed their āget ready for crypto ETNs on 8th Octā in-website questionnaire. Would be good to know what instruments will be available so I/we can review in advance.
Interesting. I failed the test, although I am pretty sure I got the answers right. ETNs are not exactly complicated.
Maybe it was the bit where it asked āhow often have you traded crypto assets in last yearā and I said Not at all?
Link to questionnaire please?
There was a banner with the link on the home page when I logged into the browser webapp.
IBIT is a crypto ETN?
If itās US-domiciled ETF, FCA wonāt allow it, as also it doesnāt allow with other US-domiciled ETFs.
You need to be on the website (not the app), then top left on the Homepage there was a small panel above the watchlists to take the questionnaire.
Edit: looks like you need to ensure you have v8.0.0 (via website). Go to burger stack triple bar button top right, scroll to the bottom of the menu and if you see v8.0.0 you should have the crypto questionnaire accessible via the Home page.