Following approval, UK investors can now hold cryptocurrency ETNs in a tax-free vehicle, thanks to fintech startup Stratiphy's new offering. This development allows users to personalize their investment strategies, with access to both crypto ETNs and Innovative Finance ISAs. The latter enables tax-free savings of up to £20,000 per year, with no income tax or capital gains tax on returns.
Stratiphy's platform manages £4 million for 2,000 clients and will offer three ETNs from 21Shares, including those tracking bitcoin, ether, and a BTC-gold combination. According to CEO Daniel Gold, there is significant interest in these products, which provide a new asset class with low correlation to other assets, making them an interesting way to diversify portfolios.