EU CRYPTO DERIVATIVES · BITVAVO · LAST VERIFIED
Does Bitvavo hold a MiFID II authorisation for crypto derivatives in the EU?
Bitvavo does not appear in our register as a MiFID II-authorised crypto-derivative venue in the EEA. It does hold a MiCA spot-crypto authorisation, which does not cover derivatives.
Verdict: Bitvavo does not currently hold a MiFID II authorisation for crypto derivatives in the EEA.
| Current MiCA position | Bitvavo B.V. (Autoriteit Financiele Markten (AFM)) |
|---|---|
| MiFID II status | Not authorised in any EEA member state in our register |
| Notable product | 5x leveraged short selling structured as borrow-and-sell collateralised in EUR (operating under MiCA, not MiFID II) |
Enforcement context: from , providers of crypto-derivative services to EEA residents without MiFID II authorisation are operating outside the EU regulatory perimeter.
What does this mean for me as a user of Bitvavo?
Bitvavo is authorised by Autoriteit Financiele Markten (AFM) under MiCA only and does not hold a MiFID II authorisation. Bitvavo offers a leveraged short-selling product (up to 5x) to EEA users, structured as a borrow-and-sell trade collateralised in EUR. Bitvavo positions this product as operating under its MiCA authorisation rather than requiring MiFID II.
The regulatory classification of leveraged crypto short-selling structured as borrow-and-sell is not unambiguous. ESMA has not, to our knowledge as of 12 May 2026, publicly classified this product structure as a derivative requiring MiFID II authorisation, and the AFM has not publicly objected. We record Bitvavo's stated position as fact. If you want a comparable product structured as a regulated derivative under MiFID II, see the authorised alternatives below.
What about Bitvavo's spot crypto business?
Bitvavo operates the spot crypto business through a separate legal entity: Bitvavo B.V., authorised under MiCA by Autoriteit Financiele Markten (AFM). The MiCA authorisation covers spot trading, custody, fiat conversion, and the other crypto-asset services defined in Article 3(1)(16) of Regulation (EU) 2023/1114. It does not cover derivatives.
See the full MiCA spot profile: Bitvavo MiCA status →
What are the MiFID II-authorised alternatives?
Six firms in our register hold a MiFID II authorisation that covers crypto derivatives in the EEA. Kraken, Coinbase, and OKX have verified live retail products; the other three hold the relevant licences but the live retail-product status differs.
- OKX - MFSA Malta authorisation (OKX Europe Markets Limited); EUR-native deposit, X-Perps 5-year-expiry crypto futures. Live.
- Kraken - CySEC Cyprus authorisation (Payward Europe Digital Solutions (CY) Limited, licence 342/17); USD-margined perpetuals and fixed-maturity futures. Live.
- Crypto.com - CySEC Cyprus authorisation (Foris Capital CY Ltd, CIF 344/17); licence covers derivatives and CFDs. Live retail product not independently verified at the time of writing.
- Bitstamp - ATVP Slovenia MTF licence (Bitstamp Financial Services Ltd., granted 24 October 2024); crypto-derivatives multilateral trading facility. Live retail trading not independently verified at the time of writing.
- Bitpanda - FMA Austria MiFID II investment firm (Bitpanda Financial Services GmbH); CFDs on crypto under own-account dealing (Bitpanda Leverage, L-Tokens, S-Tokens, A-Token Derivative). Live for CFDs.
Frequently asked questions about Bitvavo and MiFID II
Does Bitvavo hold a MiFID II authorisation for crypto derivatives in the EU?
No. Bitvavo's EU presence is limited to 2025-06-26 MiCA authorisation under Autoriteit Financiele Markten (AFM). No MiFID II investment-firm authorisation for crypto derivatives has been identified in publicly searchable EEA registers.
If Bitvavo offers 5x leveraged short selling, why is it not under MiFID II?
Bitvavo structures the product as a borrow-and-sell trade collateralised in EUR. The customer borrows crypto from Bitvavo, sells at market, and repurchases later to close. Bitvavo positions this as operating under its MiCA authorisation rather than as a derivative requiring MiFID II. ESMA has not, to our knowledge as of , publicly classified this structure as a financial instrument requiring MiFID II authorisation. We record Bitvavo's stated position as fact and flag the regulatory grey-area context neutrally.
What are the MiFID II-authorised alternatives if I want regulated crypto derivatives in the EU?
Six firms in our register hold a MiFID II authorisation that covers crypto derivatives: OKX via OKX Europe Markets Limited (MFSA Malta), Kraken via Payward Europe Digital Solutions (CY) Limited (CySEC Cyprus, licence 342/17), Coinbase via Coinbase Financial Services Europe Ltd. (CySEC Cyprus, CIF 374/19, acquired from BUX Cyprus August 2024), Crypto.com via Foris Capital CY Ltd (CySEC Cyprus, CIF 344/17), Bitstamp via Bitstamp Financial Services Ltd. (ATVP Slovenia, MTF licence granted 24 October 2024), and Bitpanda via Bitpanda Financial Services GmbH (FMA Austria, MiFID II investment firm offering CFDs on crypto). Each firm's profile page sets out the licensed entity, regulator, product structure, and whether the retail product is verified live.
How does The Crypto Register verify MiFID II authorisations?
Every MiFID II authorisation claim on this site is verified against at least two primary sources: the firm's own published regulatory disclosures, plus an independent regulator or press source. Our full methodology describes the verification process. Corrections welcome at our contact page.
Sources cited on this page
All facts on this page are verified against at least two primary sources per our methodology. Corrections welcome at our contact page.