Hargreaves Lansdown, one of the UK’s largest retail investment platforms, is making Bitcoin and Ether exchange-traded notes (ETNs) available to its 2 million UK investors, ending its status as the largest retail investment platform to hold back from offering crypto products.
Nine ETNs from six issuers, including BlackRock’s iShares, WisdomTree and 21Shares, are now listed on the platform, with annual fees ranging from zero to 0.35%. The products will be available through Hargreaves’ Advanced Investing service and are subject to additional investor safeguards.
The move comes after the FCA lifted its ban on retail access to crypto ETNs in October 2025.
Despite the regulatory change, adoption has remained relatively modest, with industry participants citing limited access through tax-advantaged accounts and the need for greater investor education.
Hargreaves Lansdown previously cautioned that Bitcoin should not form a core part of investment portfolios, even as the firm prepared to offer crypto products to clients. The statement in which the firm made the comments has since been removed from its website.
The Bristol-based firm said Bitcoin “is not an asset class” and lacks the intrinsic characteristics needed to justify its inclusion in portfolios for growth or income, despite its long-term price appreciation.
Hargreaves Lansdown stated at the time that it would spend several months developing a “balanced client journey” that includes detailed risk warnings and an appropriateness assessment. Clients who qualify would generally be subject to a 10% cap on crypto exposure under FCA rules.
