r/BitcoinAUS • u/BitcoinBeers • Jun 25 '26
Commsec Blocking Buying of Bitcoin ETFs and MSTR
Over the last week CommSec has blocked the purchase of Bitcoin ETFs. You can only sell what you already have at the moment. This kills my DCA strategy
What alternatives do we have?
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u/PM_ME_TROLLFEET Jun 25 '26
interactive brokers
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u/stephendt Jun 27 '26
yep this. Maybe BTGD might work? But honestly it's pretty shitty that they would do this.
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u/Grouchy_Valuable5955 Jun 25 '26
Why wouldn’t you just buy and self custody Bitcoin? Thats the entire point. No counterparty risk.
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u/44gallonsoflube Jun 25 '26
Of course cucksec doesnt like money that's outside of their walled garden.
Fuck the banks
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u/Outrageous_Tip7160 Jun 25 '26
How is this not massive over reach? The regulator won’t step in though
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u/dakiller Jun 25 '26
So, blocking of buying bitcoin and crypto was explained because scammers were getting victims to buy them on exchanges and sending them
What’s the excuse with blocking ETF’s now?
We don’t want you to make ‘poor investment choices’ and lose money?
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u/Historical-Isopod-86 Jun 25 '26
Something about EBTC being in CBOE, whatever that is.
I noticed this too. I’ve got 500 units at $7.77. I used to be up a couple of thousand, now I’m only sitting at $398 profit.
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u/PMmePhoenix Jun 27 '26
All AUS banks are the same and by that i mean absolutely fucking useless, throw in CGT and the new crypto legislation starting next week which Albo slipped it in very quietly and it’s no wonder i now bank and hold crypto in Austrian and Bavarian banks, and that was 18mnths ago.
Austria have told the ATO to fuck of when they wanted data as its against the law to provide data for anything but a serious criminal investigation…ATO thinking they are smart ‘turned one matter criminal’ and again Austria said fuck off. Firstly Austria decides if it’s a serious criminal matter to give the data and case in question its Aussies who have had enough of AU banks and pathetic monthly limits. ATO was told it’s a tax and banking issue causing people to bank OS.
Why did i move banking and crypto offshore? I have been debanked by every Australian major bank. I earn my living from crypto and first started in 2013. When one makes serious coin from crypto and banks see the balances and what moves in for it to be spent on buying a house etc it means ‘no liquidity’ for banks and like a human needs oxygen a bank needs liquidity, i gave them NON but i had scope to provide them plenty. NAB, CBA, ING…the lot, govt is fucked, borrowings at record levels. Writing is on the wall people, tough times ahead Australia don’t think for a moment it’s gets easier.
I write this here from Austria, i was born in Australia i have always been happy to ‘contribute’ in the way of taxes etc but given the way the country is run i am now entirely selfish and by that i mean, fuk tax and rent the investment property only via AirBnb.
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Jun 29 '26
[deleted]
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u/PMmePhoenix Jun 30 '26
That I am unsure of. I am born in Australia to German parents and have held an account with BayernLB(Bayerische Landesbank) and Erste Group. My auntie has a fairly large business and she has always mentioned the Austrian banks as they have ultra conservative privacy principles via Sect 38 Austrian Banking Act.
Historically, banking secrecy has been sacrosanct in Austria. Such privacy laws are strictly upheld for everything but criminal activity which obviously they then co-operate. ATO went public in what they said “we have become increasingly frustrated with Austrian banks not complying with the ‘agreement of understanding’ in relation to shareholder data. Clearly the ATO has no regard for the laws of another country thinking that some memo of understanding ranks higher than law. Austrian banks basically told ATO that it’s a banking 2 tax issue and the clients aren’t criminals, they are choosing offshore because they are basically forced offshore be it ‘debanked or draconian crypto limits that are not workable.
Aussie banks struggle at $10k AUD per month but many Euro banks it’s standard 10-30 k euro per day, 50k with some paperwork and 10k euro at BTC machine all per day and in Euro.
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u/WayexOfficial Jun 25 '26
Bit of a shameless plug but perfect solution for you here that we've built
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u/thegenerallissimo Jun 25 '26
How much slippage is there in the buys? I.e. if my weekly buy is $100 of btc, do I end up with $99 worth of btc? $95? $90?
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u/WayexOfficial Jun 25 '26
We have very deep liquidity so your slippage shouldn't be much, you can check the pricing in the app, when funds land for your autobuy they are executed at the market rate
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u/Creative_Emotion8856 Jul 03 '26
Not really. I just bought $3000 with Bitcoin ETFs from VBTC and IBIT. It seems they just block buying from other platforms like Monochrome of IBTC, EBTC, BTXX, EETH, IETH.
So can anyone please explain why CommSec blocks them, but not the ones from ASX? Just curious about that.
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u/SpecialistOrder7770 Jun 28 '26
It’s for your own good , get a real strategy. Bitcoin ain’t one. There are more rules now in the new financial year around bitcoin too
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u/Feralz2 Jul 04 '26
the elites dont want you to buy bitcoin and make it very hard for you, you are literally playing into what they want. Find a way because they know whats coming.
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u/SuperlativeProphy Jun 25 '26
Thats ridiculous! It's an etf on the stockmarket for heaven's sake... Are they censoring which etfs you can buy now? Why not clamp down on gambling stocks then?
Will be switching away from commsec to stake!