Upcoming U.S Bitcoin ETFS

It seems as if there is a 90% chance that the SEC will approve at least one Bitcoin ETF around Jan 10th. Some of the companies with applications in have already released adverts.

Do we think any of these will be available for non-US customers on T212?

BTW, Fidelity’s ETF will have just a 0.39% fee, and Galaxy/Invesco’s will have 0% for the first 6 months.

I wouldn’t be surprised if a Bitcoin ETF got approval in Jan but I think it’s also possible that they’ll kick the can a bit further down the road.

Non-UCITs ETFs such as most ETFs listed in the US are unavailable to (most) UK and EU retail investors.
As such it is unlikely to be available on T212 or any UK/EU Broker.

For UK investors specifically, I seem to remember that the Financial Conduct Authority (FCA) does not allow investments in crypto-linked ETCs. I may be miss-remembering though.

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You are correct.

The wonderfully named PS19/22 effectively stops the sale of ETCs supported by only Crypto to UK retail https://www.fca.org.uk/publication/policy/ps19-22.pdf

You can get around this is some weird ways – like when ETF providers “wrap” the ETC themselves in an UCITS ETF…so I’d expect derivative plays like this to be provided by the likes of GraniteShares and LeverageShares as soon as any US BTC ETFs materialise.

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Outside UK, already exists tons of physical crypto ETPs.

They include single asset (Bitcoin, Ethereum and many other digital assets) and basket ETPs.

In civilized Europe, only the British regulator doesn’t allow those crypto ETPs to be offered to retail investors.

I think its time to add one of the new Bitcoin ETFs.

If an equivalent listing can be offered to our EU customers in the future, we will add it.

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Welcome to our community.

Just read the previous posts. :wink: