Following approval, UK investors can once again hold cryptocurrency ETNs in a tax-free vehicle, thanks to Stratiphy's new offering. The fintech startup allows users to personalize their investment strategies, providing both crypto ETNs and Innovative Finance ISAs. This development comes after the UK's tax authority classified crypto ETNs as IFISA-only instruments, making last year's lifting of the retail access ban redundant.
Stratiphy will offer three ETNs, including those for bitcoin, ether, and a combination of BTC and gold, providing investors with a new way to diversify their portfolios. With ISAs, users can save up to £20,000 annually without paying income tax or capital gains tax on returns.
Stratiphy manages £4 million for 2,000 clients and sees significant interest in these crypto products, citing their low correlation to other asset classes.