Following a recent approval, UK-based investors can once again benefit from holding cryptocurrency exchange-traded notes (ETNs) in a tax-free investment vehicle, as announced by fintech startup Stratiphy. The company will provide access to three ETNs from 21Shares, covering bitcoin, ether, and a combination of BTC and gold, within a special class of individual savings account (ISA). This development allows users to save up to £20,000 per year without incurring income tax or capital gains tax on their returns. Stratiphy, which manages £4 million for 2,000 clients, will offer both crypto ETNs and Innovative Finance ISAs (IFISAs), providing users with a unique opportunity to diversify their portfolios with a new asset class that has low correlation to other asset classes.
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