Hello everyone, I’m looking for guidance regarding the tax treatment of cryptocurrency ETP investments I hold through Scalable Capital in Germany. I own two physically backed products with ISINs GB00BLD4ZL17 (Bitcoin exposure) and GB00BLD4ZM24 (Ethereum exposure). Both products involve physical staking mechanisms.
I’m uncertain whether these ETP holdings fall under the same one-year holding period requirements that apply to direct cryptocurrency purchases in Germany. My preliminary research suggests they might be subject to these rules, but I’ve come across conflicting information indicating the tax authorities could treat them differently.
Has anyone dealt with similar ETP products for tax purposes? I’d really appreciate hearing about your experiences or any professional advice you’ve received on this matter.
Great question! I’ve been wondering the same thing myself. Don’t have those exact ETPs but I’m looking into similar physically backed crypto products.
German tax rules for these are pretty murky right now - you’re right about the conflicting info everywhere. What’s got me curious is the staking part you mentioned. Are you getting staking rewards from these products? That could complicate the tax situation even more.
Have you contacted Scalable Capital directly? They might provide tax guidance or documentation for these products since they’re offering them. Brokers sometimes know how tax authorities actually treat these newer instruments in practice.
One thing that’s bugging me - do you know if the underlying crypto is held in your name or pooled? That distinction might matter for how the Finanzamt views it.
Really hoping someone who’s actually filed taxes on these can jump in. This seems like one of those gray areas where theory and practice are totally different!
honestly, from what i’ve seen, etps should follow regular investment fund rules instead of direct crypto holding rules. the one-year thing mostly applies to coins you buy yourself. but staking rewards might still count as income when they’re distributed - that’s the tricky part. maybe check with a tax advisor who knows crypto?