UK investors can now hold cryptocurrency exchange-traded notes in a tax-free vehicle, thanks to Stratiphy's approval to offer them in an individual savings account. This fintech startup allows users to personalize their investment strategies and offers both crypto ETNs and Innovative Finance ISAs. ISAs enable users to save up to £20,000 a year without paying income tax or capital gains tax on returns. Stratiphy will provide access to three ETNs from 21Shares, covering bitcoin, ether, and a combination of BTC and gold.
The platform, which manages £4 million for 2,000 clients, sees significant interest in these products as a way to diversify portfolios with a new asset class that has low correlation to other asset classes.