Hargreaves Lansdown Enters Crypto Arena with Bitcoin and Ether ETNs

Hargreaves Lansdown has launched nine crypto exchange-traded notes (ETNs) backed by Bitcoin and Ether for its UK clients, starting in September 2026. The British investment platform allows nearly two million clients to access digital assets through traditional ETN vehicles.

This move marks a shift in the firm's corporate policy, as previous company statements described these assets as purely speculative instruments that investors should avoid. However, under current regulations, the instruments are restricted to general investment accounts and self-invested personal pensions, excluding tax-exempt Stocks and Shares ISAs.

To access the ETNs, clients must pass a technical appropriateness assessment and complete a mandatory 24-hour cooling-off period before trading. The platform enforces an annual custody fee of 0.35%, capped at £12.50 per month, with trading fees ranging from £3.95 to £6.95 depending on user frequency.

The UK regulator's classification of these vehicles as Restricted Mass Market Investments (RMMI) has paved the way for this launch, which follows a four-year retail crypto derivatives restriction. Financial analysts note that the framework shifts operational risk toward issuer solvency and price index tracking.