Hargreaves Lansdown launches Bitcoin & Ether ETNs in UK
6.6 Investments Hargreaves Lansdown now offers Bitcoin and Ether ETNs to UK retail investors, with nine products, eligibility checks, and a 10% portfolio cap, following the FCA's ban lift and new tax rules.
Hargreaves Lansdown, the UK's largest retail investment platform, has introduced Bitcoin and Ether exchange-traded notes (ETNs) for eligible UK investors. This move follows the Financial Conduct Authority's decision to lift the ban on retail crypto ETNs in October 2025. The platform now lists nine ETNs from issuers such as BlackRock, WisdomTree, 21Shares, Invesco, CoinShares, and Bitwise, with annual fees ranging from 0% to 0.35%. Investors do not directly own the underlying cryptocurrencies. Eligibility requirements include passing an appropriateness assessment and observing a 24-hour cooling-off period before trading. These ETNs are classified as Restricted Mass Market Investments, with a recommended portfolio cap of 10%. From April 2026, a new tax rule will move these products into the Innovative Finance ISA, limiting tax-free holding options. Hargreaves Lansdown's offering gives millions of retail investors regulated access to crypto assets through mainstream investment accounts, despite the platform's previous skepticism toward cryptocurrencies.
