As lots of you probably know, the FCA has decided to ban the sale of crypto-derivatives and ETNs to UK retail investors from 2021.
Will the Bitcoin ETP (BTCE) be impacted by this ban? And if so, does that mean we’ll be forced to sell this holding when the ban comes into place?
I only discovered this ETP today and was excited, as I’d much rather pay the 2% annual management fee and hold this in an ISA rather than get slapped with 20% capital gains tax (or more) when selling real bitcoin… But now I’m wondering if this is a viable investment due to the FCA news
I found another article that spoke about this ETP in the context of the ban, but it wasn’t entirely clear whether it actually is impacted, and if so then how.
I also understand that the ban applies to derivatives, and one could argue this ETF is not a derivative since it’s backed by actual BTC in safe custody… But I’m not an expert so would be great to get your views on this
Thanks all for your help