Following approval, UK investors can once again invest in cryptocurrency exchange-traded notes (ETNs) through a tax-free vehicle, thanks to fintech startup Stratiphy. The company will provide access to 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 investors to personalize their investment strategies while benefiting from tax exemptions.
ISAs enable users to save up to £20,000 annually without incurring income tax or capital gains tax on returns. Stratiphy's platform manages £4 million for 2,000 clients and will offer both crypto ETNs and Innovative Finance ISAs. According to CEO Daniel Gold, there is significant interest in these products, which provide a unique opportunity for portfolio diversification with low correlation to other asset classes.