Following approval, UK investors can once again hold cryptocurrency ETNs in a tax-free vehicle, thanks to Stratiphy's special class of individual savings account. Stratiphy, a fintech platform, allows users to personalize investment strategies and offers both crypto ETNs and Innovative Finance ISAs. ISAs enable users to save up to £20,000 annually without paying income tax or capital gains tax on returns. After HMRC classified crypto ETNs as IFISA-exclusive instruments, Stratiphy's move addresses the criticism that the UK was becoming an outlier in crypto investment accessibility.
Stratiphy will provide access to 21Shares' ETNs, including those for bitcoin, ether, and a BTC-gold combination, and currently manages £4 million for 2,000 clients.