HL Brings Crypto ETNs to Clients, But Fees Still a Concern

Hargreaves Lansdown has launched nine exchange-traded notes tied to Bitcoin and Ether on its Advanced Investing service. This move gives its two million clients a regulated route to crypto prices, but it does not recreate direct coin ownership or round-the-clock dealing.

The notes trade only during London market hours, which means that investors cannot continuously buy or sell them. A weekend shock in the cryptocurrency market can therefore reach the ETN as a gap when its market reopens.

Around 2% of the initial £1,000 investment can be lost on fees alone before even considering spreads, tax, or market fluctuations. This calculation exposes the real trade-off behind the launch and highlights the importance of understanding the costs involved in investing in these products.