UK investors can once again benefit from tax-free cryptocurrency investments, thanks to Stratiphy's approval to offer exchange-traded notes (ETNs) in a specialized individual savings account (ISA). According to the Financial Times, Stratiphy, a fintech platform, will provide both crypto ETNs and Innovative Finance ISAs, allowing users to invest up to £20,000 per year without paying income tax or capital gains tax on returns.
The move comes after the UK's tax authority, HMRC, classified crypto ETNs as IFISA-eligible instruments from April 6. Stratiphy will offer access to three ETNs from 21Shares, covering bitcoin, ether, and a combination of BTC and gold, providing a new way for investors to diversify their portfolios with a low-correlation asset class.