Bitpanda has introduced Real Securities (Real stocks, ETFs and ETCs), which qualify as securitized financial instruments and can be safekept on a securities custody account and give users direct ownership
Legacy assets (A-Token, derivative contracts) can no longer be purchased and are now available in sell-only mode.
This information only applies to users who currently hold Legacy assets. If you do not hold any Legacy assets, nothing changes for you.
Quick overview
Legacy Assets vs Real Securities
Legacy assets and Real Securities are two different product types on Bitpanda.
Legacy Assets are derivative-based investment products that provide exposure to the price of specific stocks, ETFs and commodities, rather than direct ownership of the underlying securities.
- No direct ownership of the underlying securities
- Platform-defined trading behaviour
- They mirror price movements, but do not represent ownership of the underlying assets
- You continue to receive the full economic value of corporate actions (like dividends), though crediting times can vary based on the derivative's technical structure
- With legacy assets, although you receive dividend payments or other potential advantages from corporate actions, you will not have any voting rights. Furthermore, all your claims (e.g. dividends) are only valid against Bitpanda and not against other third parties (issuing party, depositary bank etc.)
Real Securities include stocks, ETFs and ETCs traded on regulated exchanges and give users direct ownership.
- Direct ownership is reflected in the user’s securities account
- Trading follows market mechanics and exchange trading hours
- Corporate actions (e.g. dividends, stock splits) are handled according to market rules
- Market hours only: trading is available during exchange trading hours (Monday–Friday 07:30–23:00), not 24/7
- Indicative prices: prices shown before you confirm an order may change as prices obtained in the course of a request for quote have time limited validity and will update
- Liquidity dependent: order execution depends on available market liquidity and obtaining prices from the exchange
- Exchange-driven availability: trading may be affected by exchange events or market holidays
What happens to existing Legacy assets
Legacy assets are currently in sell-only mode, which defines what actions are available to you.
You can sell your Legacy positions at any time. Temporarily, the sale of Legacy securities is spread-free.
Is user action required?
No immediate action is required.
If you want to reduce or close your position, you can sell Legacy assets manually in your Bitpanda account. You can also swap from Legacy assets to other supported assets.
Selling or swapping Legacy assets may trigger taxable events depending on your personal circumstances.
How to sell Legacy assets
Users who hold Legacy assets can find them in the Portfolio section of their Bitpanda account.
From there, Legacy assets can be:
- Sold (thus terminated)
- Swapped to other supported assets
New buy orders for Legacy assets are not available.
To distinguish Legacy assets from Real Securities, check the asset label in your portfolio. Legacy assets are marked with “Legacy” above the asset name.
What happens to existing savings plans and orders
Any existing savings plans and limit orders for Legacy assets are automatically cancelled and will no longer be executed.
If a savings plan fiat deposit has already been triggered for an upcoming execution, the funds will be available in your fiat wallet and can be used freely.
Savings plans and orders for other supported assets need to be set up again manually by the user.
To learn more, check out the Bitpanda Savings Plan article.
FAQ
What are Legacy assets?
Can I still buy Legacy assets?
Can I still sell Legacy assets?
Can I still swap Legacy assets?
Can I swap to Real Securities?
Are there fees for selling Legacy assets?
What happens to my Legacy assets savings plan or limit order?
Any existing savings plans and limit orders for Legacy assets are automatically cancelled and will no longer be executed.
If a savings plan fiat deposit has already been triggered for an upcoming execution, the funds will be available in your fiat wallet and can be used freely.
How can I recognise Legacy assets in my portfolio?
Can selling or swapping Legacy assets affect my taxes?
Need more help?
If you have questions about Legacy assets or if something does not look right, contact Bitpanda Support via Livechat by logging in to your account.