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Established Contributor
Posts: 299
Registered: ‎24-07-2017
Accepted Solution

XBT Provider AB Bitcoin and Ether

[ Edited ]

I currently am invested in XBT Provider AB Bitcoin and Ether both in SEK and EUR. This is via Hargreaves Lansdown. I have looked for these products on the IG platform and cannot find them. They are Exchange Traded Notes (ETN's). I have noticed that you do offer both ETF's and ETN's for other products on your IG platform. 

 

Am I correct in assuming that they are not available?

 

If so then may I ask that you seriously consider making them available for those who do not want to trade Cryptocurrencies but want to invest in them and hold over a longer period of time. It is challenging and giving Bitcoin Investment Trust (Grayscale) a run for its money.

 

https://xbtprovider.com

 

http://bitcoinist.com/unprecedented-new-bitcoin-account-opening-expected-launch-futures-contracts/

 

https://www.investopedia.com/news/bitcoin-etfs-are-next-line-after-futures/

Community Manager
Posts: 661
Registered: ‎20-09-2016

Re: XBT Provider AB Bitcoin and Ether

Hi - unfortunately we can't offer this stock via a share dealing account because we don't offer access to the underlying exchange in Stockholm (on a share dealing account). If you can find a similar product on the UK exchanges, or any of the following international exchanges, then I can of course see if the desk can add it. Please note that we can't necessarily add anything and everything... 

 

2018-01-04 08_48_38-Share Dealing Charges and Fees _ IG UK.png

 

We also can't offer ETN's via the leveraged spread or CFD offering. This is because ETN's can generally come with a number of high back end costs and high broker margin requirements, as well as a propensity to de-list quite regularly which can cause a hassle especially when you have to force a client out of their holdings (especially if the ETN is down). 

Established Contributor
Posts: 299
Registered: ‎24-07-2017

Re: XBT Provider AB Bitcoin and Ether

Thank you James for your quick response. You provide an excellent level of service which is very much appreciated.

 

I am afraid the alternative is the Bitcoin Investment Trust (Grayscale). However this trades to a premium against the NAV and I feel XBT offers a much better alternative with the options of EUR and SEK rather than BIT in USD. I am not aware of any other alternatives on the exchanges you suggest and I am certainly not aware of any on a UK exchange. 

 

I appreciate your last comment and would expect as much.

 

I wonder if you can offer shares such as Coinsillium and Kryptonite 1 PLC both listed on UK NEX Exchange? I am invested in both and enjoying amazing returns on both but it would be far more with leverage via IG spread betting. Are you able to offer these?

Highlighted
Community Manager
Posts: 661
Registered: ‎20-09-2016

Re: XBT Provider AB Bitcoin and Ether

Unfortunately both of these are OTC markets which means that we are unable to trade on them. We only offer electronically matched exchanges, rather than these OTC stock markets which are inefficient, illiquid, and expensive.