Red letter day for crypto in UK tomorrow

Finally the long overdue day arrives tomorrow when general brokerage accounts (of at least a few brokers) will provide access to bitcoin and ethereum backed etps and allow a safe tradfi route for those who were so far too much on the fence. Not only does this open the route to tax wrappers (sipp / isa) but also provides one of the safest ways to gain exposure if you didn't want to go down the 'control your own keys' route.

I know that at least 21shares and Wisdomtree btc and eth etps are set to be opened for trading to Retail tomorrow with the rest soon following within days.

To start with, access will be provided by Interactive Investors, Trading212 and Saxobank with others likely to follow in due course.

While there has been concern that these products are etns rather than US style etfs, such risks are largely overblown as the products are nonetheless fully backed

https://docs.londonstockexchange.com/sites/default/files/documents/crypto_etn_admission_factsheet.pdf

The reason for Europe and UK using this structure is down to UCITS regulation not allowing etfs with single or concentrated asset underlyings.

Edit 20/10: Can confirm that I tried in Interactive Investor this morning 20/10 and orders in CBTC were going through. T212 strangely gave me a message saying my 24 hour cooling off period was still underway and that i would be able to trade after 30/10.

Edit: T212 now works for me and access to crypto etps is working!

Edit: II is also providing access to Bitwise issued etps on LSE. Of particular note here is ticker ET33. This is far and away the most compelling staked Ethereum etp. Charges 0.65% pa fee and gives you all the staking yield minus 10% staking fee. It's benchmarked to an external Ethereum Total Return Index

https://bitwiseinvestments.eu/de/products/bitwise-ethereum-staking-etp/

Don't be confused. ET33 is just the GBP ticker of the above.