Hargreaves Lansdown lists crypto ETNs for UK retail clients after FCA rule change

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Hargreaves Lansdown crypto ETNs

Highlights

Hargreaves Lansdown began offering nine bitcoin and ether ETNs with annual fees of 0% to 0.35% after the FCA lifted its retail ban in October.
New buyers on the platform must complete an appropriateness assessment and wait 24 hours before purchasing the crypto ETNs, as required by the FCA.
Hargreaves Lansdown's move gives two million clients mainstream access to crypto ETNs but the firm maintains a cautious stance, warning of bitcoin's volatility and lack of intrinsic value.

Crypto product rollout after FCA shift

As reported by CoinDesk, citing Hargreaves Lansdown, the Bristol-based investment platform has started offering nine bitcoin and ether exchange-traded notes from managers including BlackRock’s iShares, CoinShares, WisdomTree, 21Shares, Invesco and Bitwise, with annual fees ranging from 0% to 0.35%. The company says the launch follows the Financial Conduct Authority’s decision in October to lift its ban on retail access to crypto exchange-traded products.

The platform says new buyers must complete an appropriateness assessment and then wait 24 hours before they can purchase the notes. The FCA now requires firms to check whether retail clients understand the risks of crypto ETNs, including the possibility of losing all of their investment.

Risk warning remains in place

Hargreaves Lansdown is still maintaining a cautious stance on digital assets even as it expands access to the products. The firm says bitcoin is not an asset class and lacks the intrinsic characteristics that would support its inclusion in a portfolio for growth or income.

It also says bitcoin’s price history includes periods of extreme losses and that the asset should not be relied upon to help clients meet financial goals. The decision is significant for the market because it opens bitcoin and ether exposure to two million clients through a mainstream investment service rather than a specialist crypto exchange.

In our earlier article on the NSE warning about fake “guaranteed returns” schemes, we explained how unauthorized individuals were soliciting investors via Telegram while asking for login IDs and passwords. The exchange stressed that such operators are not registered or authorized, and that disputes arising from these prohibited schemes may fall outside formal exchange protection and grievance mechanisms. Readers were urged to verify intermediaries using official broker-check facilities and never share account credentials.

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