Following approval, UK investors can once again hold cryptocurrency ETNs in a tax-exempt account, thanks to fintech startup Stratiphy. The company will provide access to three ETNs from 21Shares, covering bitcoin, ether, and a combination of bitcoin and gold, within a specialized individual savings account (ISA). This development allows investors to personalize their investment strategies using crypto ETNs and Innovative Finance ISAs (IFISAs). ISAs enable users to save up to £20,000 annually without incurring income tax or capital gains tax on returns.
Stratiphy, which manages £4 million for 2,000 clients, will offer these products, providing a new avenue for diversification with low correlation to other asset classes.