Following approval, UK investors can once again hold cryptocurrency ETNs in a tax-free account, thanks to fintech startup Stratiphy's new offering. Stratiphy allows users to personalize their investment strategies and is providing both crypto ETNs and Innovative Finance ISAs. These ISAs enable users to save up to £20,000 per year without paying income tax or capital gains tax on returns.
After the UK's tax authority classified crypto ETNs as IFISA-exclusive instruments, Stratiphy's move addresses the resulting redundancy in last year's decision to lift the ban on retail access to crypto ETNs. The company will offer three ETNs from 21Shares, covering bitcoin, ether, and a BTC-gold combination, providing a new way for investors to diversify their portfolios with a low-correlation asset class.