UK investors can once again benefit from tax-free cryptocurrency investments, thanks to Stratiphy's approval to offer ETNs in an ISA. Stratiphy, a fintech platform, provides personalized investment strategies and is now offering both crypto ETNs and IFISAs. ISAs allow users to save up to £20,000 per year without incurring income tax or capital gains tax on returns.
Recently, HMRC classified crypto ETNs as IFISA-exclusive, rendering last year's decision to lift the ban on retail access redundant. Stratiphy will provide access to three 21Shares ETNs: bitcoin, ether, and a BTC-gold combination.
With £4 million in assets under management for 2,000 clients, Stratiphy's CEO notes a significant interest in these products, citing their potential for portfolio diversification and low correlation to other asset classes.