Hargreaves Lansdown Brings Crypto ETNs to Mainstream UK Investors

Hargreaves Lansdown has started offering nine Bitcoin and Ether exchange-traded notes (ETNs) to its two million clients in the UK. This move comes after the Financial Conduct Authority (FCA) lifted its retail ban on crypto-linked products in October.

The ETNs, which carry annual fees ranging from 0% to 0.35%, are available from managers including BlackRock's iShares, CoinShares, WisdomTree, 21Shares, Invesco, and Bitwise. New buyers must complete an appropriateness assessment and wait 24 hours before purchasing the notes.

Hargreaves Lansdown is still warning clients about the risks of Bitcoin, stating that it lacks intrinsic characteristics and its price history includes periods of extreme losses. The firm emphasizes that Bitcoin should not be relied upon to help clients meet financial goals.