Post
Topic
Board Speculation
Re: GBTC Bitcoin Investment Trust Observer
by
plusalpha789
on 25/01/2018, 19:41:19 UTC

Can you provide more detail on this? I asked Fidelity multiple times if they offered COINXBT and COINETH as recently as last month and they said that they did not. Also, please note above where I said Interactive Brokers delisted this stock and also forced liquidation on the position today. Who is to say that Fidelity won't do the same thing?

I'm fairly certain that the GBTC premium will remain until another US based alternative emerges for non-accredited investors. I held COINXBT for years and I will have to pay so much in short-term gains taxes as a result of Interactive Broker's honestly shitty handling of this situation that it would have honestly been better if I had just paid the 30% premium to GBTC on a recent large purchase I made early 2017 (hence the short-term gain tax). 

As long as your Fido account is enabled for international trading, just go to trade / international tab and then enter as a symbol BITCOIN_XBT:SE or BITCOIN_XBTE:SE (SEK and euro, respectively, and the symbols are probably specific to Fidelity). 

For anyone else not at Fidelity, if your broker can't handle these ETNs, it might be worth transferring your account.  Each GBTC share you replace with one of the zero-premium European-traded ETNs saves you something like $635, based on the current high GBTC premium.

Here is a link to a small test trade I did at Fidelity the other day: https://stocktwits.com/plusalpha/message/110305506