One of the largest retail investment platforms in the UK, Hargreaves Lansdown, has made 9 Bitcoin and Ethereum ETN available to eligible customers. Individual investors can gain exposure to crypto asset prices through regulated channels, but there are still many entry barriers and trading restrictions.
Available only to qualified users.
These products were launched on September 3 and are available to qualified users within the Advanced Investing platform services. Hargreaves Lansdown has approximately 2 million customers, but not all accounts are able to directly trade these related products.
Before activation, customers must first self- certify as advanced investors, complete an online suitability assessment, and wait for a 24-hour cooling-off period before they can obtain trading privileges.
FCA Complete the product after release.
The Financial Conduct Authority (FCA) of the UK FCA allowed retail investors to purchase eligible cryptocurrencies ETN again in October 2025, ending a restriction that had lasted for about four years. Since then, several major British investment platforms have successively launched similar products.
Hargreaves Lansdown This time, the entry time is relatively late. The platform stated that the delay in launch was to first complete customer testing and the design of protective measures, so that users can fully understand the product structure and risks before trading.
Do not directly hold underlying assets.
Encryption ETN is a financial instrument listed on exchanges, used to track the prices of Bitcoin or Ethereum. Investors purchase certificates issued by financial institutions and do not directly hold the corresponding crypto assets.
This arrangement means that users do not need to manage wallets or private keys, nor can they withdraw the underlying assets. At the same time, investors also have to bear additional risks associated with issuers, custodians, trading venues, and platforms. Product fees and bid-ask spreads may also cause returns to deviate from the trend of the underlying asset.
Fees and trading hours are subject to restrictions.
The platform charges a annual fee of 0.35% for holding the crypto ETN, with a monthly cap of 12.50 pounds. The transaction handling fee varies between 3.95 pounds and 6.95 pounds depending on the customer's trading frequency, and this does not include the management fees for the product itself.
These products are only traded during the trading hours of the London Stock Exchange and cannot provide 24-hour continuous trading like cryptocurrency exchanges. Hargreaves Lansdown It indicates that the platform has continuously received related inquiries, but the retail participation on other platforms in the UK is still relatively modest, and future demand remains to be seen.
