{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2023-06-27","gaps":[],"covered":["ESMA Q&A 1241 — Q&A — UCITS eligible under DLTPR [Answer Published] L3"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"the ESMA publication"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/dlt-pilot/level-3/q-and-a/esma/esma-qa-1241-ucits-eligible-under-dltpr","url":"https://www.headlesslaw.com/dlt-pilot/level-3/q-and-a/esma/esma-qa-1241-ucits-eligible-under-dltpr","title":"ESMA Q&A 1241 — Q&A — UCITS eligible under DLTPR [Answer 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legislation · published 27 Jun 2023 [Answer Published]","attribution":{"prepared_by":"European Commission","published_by":"ESMA","published_in":"ESMA Q&A tool","document_type":"qa_answer","legal_nature":"not_legislation","addressees":"not stated in the document","dates":{"published_on":"2023-06-27","question_submitted_on":"2023-06-02","locators":{"published_on":"ESMA Q&A Excel export ESMA_QA_1241, column 'Esma responses', date line","question_submitted_on":"ESMA Q&A Excel export ESMA_QA_1241, column 'Date of submission'"}},"adoption":null}},"provenance":{"official_url":"https://www.esma.europa.eu/publications-data/questions-answers/1241","check":{"result":"matched","checked_at":"2026-10-26","against":"the ESMA publication"},"repo_path":"spaces/dlt-pilot/level-3/q-and-a/esma/esma-qa-1241-ucits-eligible-under-dltpr.md","body_sha256":"254b99d39a38ba006614e176160f9415357f8efbecfd61d3b37e6be71361192f"},"units":[],"markdown":"---\ntitle: \"ESMA Q&A 1241 — Q&A — UCITS eligible under DLTPR [Answer Published]\"\nshortTitle: \"ESMA Q&A 1241 — Q&A — UCITS eligible under DLTPR [Answer Published]\"\nanswer_id: ESMA_QA_1241\ntopic: \"DLT market infrastructure\"\nstatus: \"Answer Published\"\ntype: qa\ninstrument_type: qa\nauthority: ESMA\nbinding: false\nbinding_character: non_binding\nlegal_status: in_force\nregulation: \"DLT Pilot\"\ndlt_level3: true\nmica_level2: false\nlegal_basis: \"DLT Pilot\"\ndate: 2 June 2023\nsource_link: https://www.esma.europa.eu/publications-data/questions-answers/1241\nlifecycle: \"Answer Published\"\ntext_version: \"ESMA Q&A register, 2 June 2023\"\nsource_url: \"https://www.esma.europa.eu/publications-data/questions-answers/1241\"\ncheck_status: matched\nverified: true\nlast_checked: 2026-10-26\nchecked_against: \"the ESMA publication\"\nsource:\n  prepared_by: \"European Commission\"\n  published_by: \"ESMA\"\n  published_in: \"ESMA Q&A tool\"\n  evidence:\n    prepared_by: \"Answer provided by the European Commission\"\n    locator: \"ESMA Q&A entry ESMA_QA_1241, first line of the answer field\"\ndocument_type: \"qa_answer\"\nlegal_nature: \"not_legislation\"\naddressees: \"not stated in the document\"\ndates:\n  published_on: \"2023-06-27\"\n  question_submitted_on: \"2023-06-02\"\n  locators:\n    published_on: \"ESMA Q&A Excel export ESMA_QA_1241, column 'Esma responses', date line\"\n    question_submitted_on: \"ESMA Q&A Excel export ESMA_QA_1241, column 'Date of submission'\"\nlifecycle_label: \"Answer Published\"\n---\n\n**Answer prepared by the European Commission, published in the ESMA Q&A tool · not legislation · published 27 Jun 2023 [Answer Published]**\n\n*Answer Published · ESMA Q&A register, 2 June 2023 · Checked against the ESMA publication on 26 Oct 2026 · [Official source](https://www.esma.europa.eu/publications-data/questions-answers/1241)*\n\n| | |\n|---|---|\n| **Full title** | ESMA Q&A 1241 — Q&A — UCITS eligible under DLTPR \\[Answer Published\\] |\n| **Prepared by** | European Commission |\n| **Published by** | ESMA, in the ESMA Q&A tool |\n| **Reference** | ESMA_QA_1241 |\n| **Document type** | Q&A |\n| **Legal nature** | Not legislation |\n| **Addressees** | Not stated in the document |\n| **Dates** | Published 27 June 2023; question submitted 2 June 2023 |\n| **Legal basis** | DLT Pilot |\n| **Related instruments** | None recorded |\n| **Text on this page** | Word for word — the full text of the ESMA publication |\n\n**UCITS eligible under DLTPR**\n\n### Question\n\nDoes Article 3(1), point (c), of the DLTPR require that a UCITS fund should be an ETF in order to be eligible?\n\n***\n\n### Answer\n\n\\[ESMA70-460-189 - Heading 7 - Question 4\\]\n\nAnswer provided by the European Commission in accordance with Article 16b(5) of the ESMA Regulation.\n\nUnder MIFID, units in UCITS funds fall under the category of financial instruments referred to in Section C point (3) of Annex I to that Directive, so\u0002called units in collective investment undertakings. Under Article 3(1), point (c), DLTPR, that category of financial instruments is eligible to be admitted to trading on a DLT market infrastructure, or be recorded on a DLT market infrastructure provided that those units in collective investment undertakings are covered by Article 25(4), point (a)(iv), MIFID and that the market value of the assets under management of that fund is less than EUR 500 million. There are no requirements in Article 3(1), point (c), DLTPR that would require that a UCITS fund also needs to be an exchange-traded fund within the meaning of Article 4(1), point (46) MIFID in order to be eligible for the pilot regime.\n\nDisclaimer in relation to the answers provided by the European Commission in accordance with Article 16b(5) of the ESMA Regulation: these answers clarify provisions already contained in the applicable legislation. They do not extend in any way the rights and obligations deriving from such legislation nor do they introduce any additional requirements for the concerned operators and competent authorities. The answers are merely intended to assist natural or legal persons, including competent authorities and Union institutions and bodies in clarifying the application or implementation of the relevant legal provisions. Only the Court of Justice of the European Union is competent to authoritatively interpret Union law. The views expressed in the internal Commission Decision cannot prejudge the position that the European Commission might take before the Union and national courts.\n\n***\n\n**Source:** [ESMA original document](https://www.esma.europa.eu/publications-data/questions-answers/1241)\n"}