UK investors can once again benefit from holding cryptocurrency exchange-traded notes in a tax-free environment, thanks to Stratiphy's recent approval to offer them within a special class of individual savings account. This development allows users to personalize their investment strategies through Stratiphy's fintech platform, which includes both crypto ETNs and Innovative Finance ISAs. ISAs permit users to save up to £20,000 annually without incurring income tax or capital gains tax on returns.
Following the UK tax authority's classification of crypto ETNs as instruments available only in IFISAs from April 6, Stratiphy will provide access to three ETNs from 21Shares, covering bitcoin, ether, and a combination of BTC and gold. With £4 million in assets under management for 2,000 clients, Stratiphy's CEO highlights the significant interest in these products as a means to diversify portfolios with a new asset class that has low correlation to other asset classes.