Following approval, UK investors can once again hold cryptocurrency exchange-traded notes in a tax-free individual savings account, thanks to fintech startup Stratiphy. This development allows users to personalize their investment strategies, with access to both crypto ETNs and Innovative Finance ISAs. ISAs enable users to save up to £20,000 annually without paying income tax or capital gains tax on returns. Stratiphy will provide access to three ETNs from 21Shares, including those tracking bitcoin, ether, and a BTC and gold combination.
The platform, which manages £4 million for 2,000 clients, has seen significant interest in these products, citing their potential to diversify portfolios with low correlation to other asset classes.