Hargreaves Lansdown Reverses Course on Bitcoin Trading

Hargreaves Lansdown, a British financial services firm managing nearly £173 billion ($233 billion) in assets, has reversed its stance on Bitcoin. The company is now allowing retail investors to buy Bitcoin and other cryptocurrency exchange-traded notes (ETNs).

This change comes after the firm warned customers last year about buying Bitcoin, citing its volatility and high risk compared to stocks or bonds.

The ETNs in question track the price of digital assets and are considered high-risk investments. The move follows the U.S. Securities and Exchange Commission's approval of Bitcoin exchange-traded funds (ETFs) in 2024.

The approved ETFs had a successful debut, with investors collectively managing over $100 billion in assets through these investment vehicles. Hargreaves Lansdown's ETNs are now available for retail investors to purchase on their website.