Hargreaves Lansdown Launches 9 Crypto ETNs
Hargreaves Lansdown has announced the availability of 9 Bitcoin and Ethereum exchange-traded notes (ETNs) to its 2 million customers, reversing its previous warnings against cryptocurrency investments. The new products are issued by firms including BlackRock's iShares, CoinShares, WisdomTree, 21Shares, Invesco, and Bitwise, with annual fees ranging from 0% to 0.35%. New buyers must undergo a suitability assessment and wait 24 hours before trading. This move comes after the UK's Financial Conduct Authority (FCA) lifted its ban on retail crypto ETPs last October. Hargreaves Lansdown manages over $200 billion in assets and, while still stating that Bitcoin does not belong to an asset class, now offers exposure to Bitcoin and Ethereum through mainstream investment services rather than crypto exchanges.
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