Hargreaves Lansdown Offers Crypto ETNs to UK Retail Investors

Hargreaves Lansdown, the UK's largest direct-to-consumer investment platform, has started offering crypto exchange-traded notes to its millions of retail investors. This move allows regulated exposure to Bitcoin and Ether, nearly a year after the ban on retail access was lifted.

The new offering uses a system where the notes are issued by a bank or financial firm that physically holds the cryptocurrencies in custody. Investors don't own the coins, have no wallets to manage, and aren't responsible for private keys.

Hargreaves Lansdown charges a 0.35% annual account fee to hold crypto ETNs, capped at £12.50 per month, with dealing charges between £3.95 and £6.95 per trade. The firm warns that buyers should be prepared to lose everything they invest, as the products carry full volatility.