UK investors can once again benefit from holding cryptocurrency ETNs in a tax-free account, thanks to Stratiphy's approval to offer them in an Innovative Finance ISA. This development allows users to personalize their investment strategies while minimizing tax liabilities. Stratiphy's platform provides access to a range of investment products, including crypto ETNs and IFISAs, which can hold up to 20,000 pounds per year without incurring income tax or capital gains tax. The UK's tax authority, HMRC, had previously restricted crypto ETNs to IFISAs, making them less accessible to mainstream investors.
However, with Stratiphy's offering, investors can now diversify their portfolios with crypto products, including those from 21Shares, which cover bitcoin, ether, and a combination of BTC and gold. According to Stratiphy's CEO, there is a significant interest in these products, which offer a new asset class with low correlation to other assets.