From warning to listing: UK’s largest retail investment platform opens access to crypto ETNs
UK-based investment platform Hargreaves Lansdown has begun offering crypto exchange-traded notes (ETNs) to retail clients following a change in regulatory rules. Despite the new offering, the firm maintains a cautious stance, warning clients about the risks associated with volatile digital assets.
Why it matters
This move represents a significant bridge between traditional finance and the crypto market, allowing mainstream investors easier access to digital assets under a regulated framework.
The firm’s new listings include products from BlackRock’s iShares, CoinShares, WisdomTree, 21Shares, Invesco and Bitwise, with annual fees ranging from 0% to 0.35%, it announced on Thursday.
The move comes less than a year after the platform warned retail investors against investing in cryptocurrencies and 11 months after the U.K. financial watchdog lifted its four-year ban on crypto ETNs for retail investors .
The Bristol-based firm said bitcoin, despite its long-term price gains, “is not an asset class” and lacks the intrinsic characteristics that would justify including it in a portfolio for growth or income. It also said bitcoin’s price history showed periods of “extreme losses,” and it “shouldn’t be relied upon” to help clients meet financial goals.
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