Following approval, UK investors can once again utilize tax-free savings accounts to hold cryptocurrency exchange-traded notes, thanks to fintech startup Stratiphy. This development allows users to personalize their investment strategies through the platform, which now offers both crypto ETNs and Innovative Finance ISAs. These ISAs enable users to save up to £20,000 annually without incurring income tax or capital gains tax on returns. Stratiphy will provide access to three ETNs from 21Shares, including those focused on bitcoin, ether, and a BTC-gold combination.
With £4 million in assets under management for 2,000 clients, Stratiphy's CEO highlights the significant interest in these crypto products as a means to diversify portfolios and tap into a new asset class with low correlation to other assets.