Bitcoin spot ETF in Spain: how they're taxed
ETF ≠ Direct Bitcoin (tax-wise): A Bitcoin ETF is a financial security (fund share), not a cryptocurrency.
| Bitcoin ETF | Direct Bitcoin | |
|---|---|---|
| Asset type | Financial security | Cryptocurrency |
| Models 172/173 | No | Yes (if foreign exchange) |
| FIFO rules | General securities FIFO | AEAT crypto FIFO |
| Reporting model | Model 720 (if > €50k) | Models 172/173 |
ETFs on foreign exchanges (NYSE, NASDAQ): Model 720 if > €50,000. NOT Model 172.
kointax handles direct crypto. Bitcoin ETFs → use your broker's tax reports.