British investors can once again invest in cryptocurrency exchange-traded notes (ETNs) without incurring tax liabilities, following Stratiphy's approval to offer them within a specialized individual savings account (ISA). According to the Financial Times, Stratiphy, a fintech platform allowing users to personalize investment strategies, will provide access to both crypto ETNs and Innovative Finance ISAs. These ISAs enable users to save up to £20,000 annually, exempt from income tax and capital gains tax on returns. Following HMRC's classification of crypto ETNs as IFISA-exclusive instruments from April 6, Stratiphy's move addresses the previous redundancy of lifting the ban on retail access to crypto ETNs.
The platform will offer three 21Shares ETNs, including those tracking bitcoin, ether, and a BTC-gold combination, catering to the significant interest in these products as a means to diversify portfolios with a new, low-correlation asset class.