HL Unlocks Crypto ETN Trading for Two Million Investors
UK's largest investment platform Hargreaves Lansdown (HL) has finally opened up access to nine Bitcoin and Ether exchange-traded notes (ETNs) for its approximately two million investors. The launch comes almost 11 months after the UK's Financial Conduct Authority (FCA) lifted its four-year restriction on retail access to qualifying crypto ETNs in October 2025.
The crypto ETNs are available through HL's Advanced Investing service and track the prices of Bitcoin and Ether without giving investors direct ownership. The products come from issuers such as BlackRock, WisdomTree, and Invesco, which charge annual product fees ranging from 0% to 0.35%. Customers must first self-certify as advanced investors, complete an online appropriateness assessment, and wait 24 hours before viewing the available ETNs.
HL's chief product officer Doug Abbott said that the platform delayed its launch to ensure client testing and safeguards were properly designed. He emphasized that customers should understand the products and encounter the 'right level of friction' before investing. The company warns that the instruments are volatile and high-risk, with investors potentially losing all their money.