Hargreaves Lansdown, the UK’s largest retail investment platform, has expanded its range of available products by adding nine exchange-traded notes linked to Bitcoin and Ether. As a result, around two million clients can now gain exposure to the two largest cryptocurrencies through a familiar and regulated investment infrastructure.
The available products inсlude crypto ETNs from major asset managers and issuers such as BlackRock iShares, Bitwise, CoinShares, WisdomTree, 21Shares and Invesco. Annual fees on the listed products range from 0% to 0.35%.
The launch became possible after a change in the position of the UK financial regulator, which lifted a restriction that had prevented retail investors from accessing crypto ETNs for several years.
Hargreaves Lansdown Adds Nine Crypto ETNs
The new products allow Hargreaves Lansdown clients to gain price exposure to Bitcoin and Ether without having to open an account on a cryptocurrency exchange, buy digital assets directly, or manage private keys themselves.
This represents a notable shift for a platform that manages more than $200 billion in client assets and has traditionally taken a cautious approach toward cryptocurrencies.
Less than a year ago, Hargreaves Lansdown warned retail clients about the significant risks associated with crypto investments. The company argued that Bitcoin is difficult to classify as a traditional asset class because it lacks some of the characteristics typically used to support long-term portfolio growth or generate stable income.
The platform also highlighted Bitcoin’s history of sharp price declines and stressed that investors should not rely on cryptocurrency as a guaranteed way to achieve their long-term financial goals.
The company has not withdrawn those warnings. Instead, the change reflects a new regulatory environment that now allows it to provide access to regulated crypto investment products while maintaining appropriate investor protection measures.
FCA Opens Crypto ETNs to Retail Investors
The expansion followed a decision by the UK Financial Conduct Authority (FCA) to lift a four-year restriction on retail access to cryptocurrency exchange-traded notes.
Following the removal of the ban, individual investors gained the ability to purchase these products through traditional investment platforms, while providers remain subject to consumer protection rules and requirements governing high-risk investments.
Crypto ETNs track the value of an underlying digital asset and are traded through conventional brokerage or investment infrastructure. This allows investors to gain exposure to Bitcoin or Ether price movements without directly buying or storing cryptocurrencies.
However, these instruments do not eliminate risk. In addition to the high volatility of the underlying digital assets, investors are also exposed to risks associated with the ETN issuer and the structure of the specific financial product.
Additional Checks Apply to New Investors
Hargreaves Lansdown requires clients purchasing crypto ETNs for the first time to complete an appropriateness assessment.
The assessment is designed to determine whether investors have sufficient knowledge to understand how the products work and the risks involved, including the possibility of losing their entire investment.
In addition, new buyers must complete a 24-hour waiting period after passing the assessment before they can make their first purchase.
These measures are consistent with FCA rules for high-risk investment products. Their purpose is to reduce impulsive investment decisions and ensure that customers understand the potential volatility and scale of possible losses.
Crypto Products Are Becoming Part of the UK’s Traditional Investment Market
The addition of Bitcoin and Ether ETNs to Hargreaves Lansdown is significant primarily because of the scale of the platform’s audience. Around two million retail investors can now access the crypto market through the same accounts they already use to buy traditional financial instruments.
Previously, investors interested in digital assets often had to use specialized cryptocurrency exchanges or trading platforms. With the addition of ETNs, products linked to Bitcoin and Ether can now sit alongside stocks, funds and other traditional investments within the same portfolio.
The listing of crypto ETNs does not mean that Hargreaves Lansdown considers Bitcoin or Ether suitable for every investor. The company continues to emphasize the high risks and volatility associated with digital assets.
Nevertheless, the launch highlights a broader trend: changes in UK regulation are gradually integrating cryptocurrency investment products into the country’s mainstream retail financial market.
For the crypto industry, this is another sign that access to Bitcoin and Ether is increasingly being offered not only through specialized crypto platforms, but also through major regulated investment services already used by millions of private investors.