Hargreaves Lansdown Launches Bitcoin and Ether ETNs for Eligible UK Clients

Hargreaves Lansdown, one of the United Kingdom’s largest investment platforms, has added nine exchange‑traded notes (ETNs) that track Bitcoin (BTC) and Ether (ETH). The products are available to eligible customers through the firm’s Advanced Investing service.

Products and Issuers

The listed ETNs come from a range of providers, including BlackRock’s iShares, WisdomTree, 21Shares, Invesco, CoinShares and Bitwise. Annual fees for the notes range from 0% to 0.35%.

Eligibility Requirements

Investors must pass an appropriateness assessment, meet specific eligibility criteria, and observe a 24‑hour cooling‑off period before they can trade the ETNs. The firm emphasized that customers need to understand the risks associated with crypto‑linked products.

Regulatory Background

The launch follows the Financial Conduct Authority’s October 2025 decision to restore retail access to crypto ETNs. Hargreaves Lansdown had previously been hesitant to treat Bitcoin as an asset class, but has now softened its stance in response to ongoing client interest.

Market Impact

Trading volumes for London‑listed crypto ETNs have risen since the FCA’s rule change, with 21Shares estimating roughly $1.5 billion in trading activity—a nine‑fold increase over the prior 17 months. Nevertheless, UK volumes remain lower than those on major European venues such as Germany’s Xetra exchange.