Overview
- Hargreaves Lansdown began offering nine physically backed Bitcoin and Ethereum ETNs to eligible users on Sept. 3, 2026 after completing client testing and compliance checks.
- The ETNs track asset prices through issuers who hold the cryptocurrencies in custody, so investors receive price exposure but do not own wallets, private keys, staking rights, or direct custody of the coins.
- Access requires users to self-certify as advanced investors, pass an online appropriateness assessment, and wait through a 24-hour cooling-off period before trading.
- Products on the platform come from multiple issuers including BlackRock’s iShares, WisdomTree, 21Shares, Invesco, CoinShares and Bitwise, with Bitwise cutting its core Bitcoin ETP fee to 0.05% and signing a distribution deal with Hargreaves Lansdown.
- Retail demand and tax-wrapper eligibility remain uncertain, so uptake will depend on investor appetite, product fees and whether rules change to allow holdings in ISAs or SIPPs.