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