Hargreaves Lansdown launches nine Bitcoin and Ether ETNs

Hargreaves Lansdown, the United Kingdom’s largest retail investment platform, added nine exchange‑traded notes (ETNs) that track Bitcoin and Ether prices. The products are available only to eligible clients through the platform’s Advanced Investing service.

Eligibility and safeguards

Investors must self‑certify as advanced investors, pass an online appropriateness assessment, and observe a 24‑hour cooling‑off period before they can view or trade the ETNs. Access requires a Fund and Share Account or a self‑invested personal pension.

Product details

The ETNs are issued by BlackRock’s iShares, WisdomTree, 21Shares, Invesco, CoinShares and Bitwise. Annual management fees range from 0 % to 0.35 %. Hargreaves Lansdown applies a 0.35 % platform fee (capped at £12.50 per month) and dealing charges of £3.95‑£6.95 per trade.

Trading and ownership

These notes trade on the London Stock Exchange during market hours and do not provide 24‑hour trading like cryptocurrency exchanges. Investors hold a note issued by a financial institution rather than the underlying digital assets, meaning they do not control private keys or wallets.

Regulatory context

The FCA lifted its four‑year ban on retail access to qualifying crypto ETNs in October 2025, imposing requirements such as appropriateness assessments, cooling‑off periods and prominent risk warnings. The products are classified as restricted mass‑market investments and must be listed on the regulator’s Official List.

Market outlook

Hargreaves Lansdown reports steady enquiries from experienced investors, but the actual uptake remains uncertain. Restrictions on holding newly purchased crypto ETNs in stocks‑and‑shares ISAs may also limit demand.