Hargreaves Lansdown, one of the world's largest digital wealth management platforms, has started offering bitcoin and ether exchange-traded notes to eligible UK customers. The move marks a shift for a platform that previously questioned whether bitcoin should be treated as an asset class.
The firm has listed nine crypto ETNs from issuers including Blackrock's iShares, Wisdomtree, 21Shares, Invesco, Coinshares, and Bitwise. Annual fees range from zero to 0.35 percent.
Eligibility Requirements and Safeguards
The products are available through Hargreaves' Advanced Investing service. Customers must meet eligibility requirements, pass an appropriateness assessment, and wait through a 24-hour cooling-off period before trading.
Chief Product Officer Doug Abbott said the firm wanted customers to understand the risks before investing. He noted the company had received continued questions about crypto ETNs, particularly from more experienced investors.
ETNs provide exposure to bitcoin or ether prices without requiring investors to hold crypto directly, manage private keys, or use a digital asset exchange.
Market Growth Following FCA Approval
The launch follows the Financial Conduct Authority's decision in October 2025 to restore retail access to crypto ETNs. Trading in London-listed crypto ETNs has increased since the FCA reopened access. 21Shares estimated that the products generated roughly $1.5 billion in trading volume after the rule change, approximately nine times the level seen over the previous 17 months.
However, London remains behind Europe's largest venues. August trading volumes were reportedly about one-sixth of those on Germany's Xetra exchange.
The significance of Hargreaves' entry lies in distribution. Bitcoin exposure is moving deeper into mainstream investment platforms, even as those platforms maintain tighter controls around who can access these products.
