UK investors can once again benefit from tax-free cryptocurrency investments after Stratiphy gained approval to offer them in a specialized ISA. According to the Financial Times, Stratiphy, a fintech company, allows users to personalize their investment strategies and offers both crypto ETNs and IFISAs. ISAs enable users to save up to £20,000 annually without paying income tax or capital gains tax on returns. Following HMRC's classification of crypto ETNs as IFISA-only instruments from April 6, this move counters the previous decision to lift the ban on retail access to crypto ETNs.
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, CEO Daniel Gold notes a high level of interest in these products, citing their potential for portfolio diversification.