Hargreaves Lansdown adds nine Bitcoin and Ethereum ETNs for eligible UK investors

Hargreaves Lansdown, one of the UK's largest retail investment platforms, has begun offering eligible clients access to nine exchange-traded notes (ETNs) linked to Bitcoin and Ethereum, giving investors regulated price exposure to crypto assets while keeping strict entry and trading controls in place. The ETNs launched on September 3 and are available through the firm's Advanced Investing service. Although Hargreaves Lansdown has around 2 million customers, only qualifying accounts can trade the products. To gain access, clients must self-certify as professional investors, complete an online suitability assessment and observe a 24-hour cooling-off period. The rollout follows the UK Financial Conduct Authority's decision in October 2025 to restore retail investors' ability to buy eligible crypto ETNs, ending a restriction that had lasted about four years. Rival platforms have since introduced similar offerings. Hargreaves Lansdown said it launched later to allow time for customer testing and to build safeguards aimed at ensuring users understand the structure and risks before trading. Crypto ETNs are exchange-listed instruments designed to track Bitcoin or Ethereum prices. Investors buy notes issued by financial institutions and do not own the underlying crypto directly, meaning they do not manage wallets or private keys and cannot withdraw the assets. Investors also take on additional risks tied to the issuer, custodian, trading venue and platform, while fees and bid-ask spreads can cause returns to diverge from the underlying asset's performance. Hargreaves Lansdown charges a 0.35% annual platform fee on held crypto ETNs, capped at £12.50 per month. Trading commissions range from £3.95 to £6.95 depending on dealing frequency, and exclude each product's underlying management fee. Trading is limited to London Stock Exchange hours, with no 24/7 dealing as offered by many crypto exchanges. The firm said it has consistently received client queries about crypto exposure, though retail participation on other UK platforms has remained modest and longer-term demand is still uncertain.