Following approval, UK investors can once again hold cryptocurrency ETNs in a tax-free vehicle, thanks to fintech startup Stratiphy. The company will offer both crypto ETNs and Innovative Finance ISAs, allowing users to save up to £20,000 per year without paying income tax or capital gains tax on returns.
This development reverses the impact of a recent HMRC classification that limited crypto ETNs to IFISAs, making them inaccessible to most mainstream investors. Stratiphy will provide access to three 21Shares ETNs, covering bitcoin, ether, and a combination of BTC and gold, offering a new way for investors to diversify their portfolios with a low-correlation asset class.