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BTC 
ETH Hargreaves Lansdown launches nine bitcoin and Ethereum ETNs through advanced investment services
On September 3, 2026, Hargreaves Lansdown (hereinafter referred to as HL), a large British investment platform, officially launched nine bitcoin and Ethereum exchange-traded notes (ETNs) to its eligible British customers. The product is available through its Advanced Investing service channel, but explicitly excludes the platform's mainstream Stocks and Shares ISA.
The product line launched this time covers many well-known publishers, including iShares, WisdomTree, 21Shares, Invesco, CoinShares and Bitwise. The move marks the implementation of a more cautious strategy for cryptocurrency products by one of the UK's largest investment platforms: Customers seeking access to these products must meet specific requirements for "advanced investment" services rather than purchasing directly through the standard retail transaction process.
Rate Range and Issuer Details
According to Crowdfund Insider, with the official launch on September 3, the annual product fee rates of these nine ETNs fluctuate between 0% and 0.35%. This option allows eligible customers to gain exposure to relevant assets through notes linked to Bitcoin or Ethereum, thereby avoiding the complexity and risks of purchasing the underlying cryptocurrency directly.
Publishers in the initial product portfolio include iShares, WisdomTree, 21Shares, Invesco, CoinShares and Bitwise. Although the costs of different products differ, the access rules for the platform remain consistent for UK customers using the service.
Self-certification, appropriateness assessment and cooling-off period
HL includes these products in the "Advanced Investment" service category, which is specifically used for investment projects that require additional customer review. This architecture is at the heart of the promotion: the company provides ETN, but places it under a framework specifically designed for clients who believe they have access to high-level investments.
According to the terms released by Hargreaves Lansdown, UK local customers must complete the following steps before trading cryptocurrency ETN:
- self-certify as a senior investor;
- Pass the Appropriateness Assessment;
- Complete a 24-hour cooling-off period.
These requirements make the entry threshold lower than traditional listed funds or stocks that can be purchased through a regular account. The platform points out that these notes can be held in a Fund and Share Account or a Personal Pension Plan (SIPP), but do not qualify for a Stock and Pension Personal Savings Account (ISA). This distinction is crucial for investors who use ISA as their primary investment vehicle.
Following the FCA relaxing access to retail cryptocurrencies
The move by Hargreaves Lansdown follows a major change in the regulatory environment, when the Financial Conduct Authority (FCA) reopened access to qualified cryptocurrency ETN to UK retail investors. The FCA stated that retail investors will be able to access these qualified products starting from October 8, 2025, as long as the products are included in the FCA's official list and are approved for trading on UK-recognized investment fund exchanges.
This change does not open a common channel for all products linked to cryptocurrencies. The FCA's regulations strictly tie retail availability to ETN's listing and trading status, while allowing platforms to impose their own distribution and customer access controls. In this context, the self-certification, appropriateness assessment and cooling-off period mechanisms adopted by HL represent complementary safeguards at the platform level. The FCA's decision established the conditions that qualified ETNs could offer to retail investors, while HL chose to offer these products through its "advanced investment" security framework.
Implement HL's previous conditional crypto stance
Hargreaves Lansdown's previous stance was conditional: It has said it will provide cryptocurrency ETN trading services to suitable customers only after additional security measures are added. In previous statements, HL also stated that Bitcoin should not be considered a traditional asset class.
The current "advanced investment" structure reflects this position. Cryptocurrency ETN is not available in all investment accounts; access is limited to eligible customers who complete the necessary steps and use an eligible account type. The result is an expansion of the range of cryptocurrency-related products in the UK without abandoning the difference between HL's exposure to bitcoin and traditional investments.
For customers, the choices are now twofold: one is to choose which of the nine ETNs, and the other is to confirm whether they meet the service requirements and have qualified account types.
Disclaimer : This article is for reference only and does not constitute legal, tax, investment, financial or other advice.
