Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.
Crypto ETNs
A simple way to invest in crypto
Access Bitcoin and Ethereum through stock-market-listed investments
No crypto wallets or private keys to manage
Hold in a Fund and Share account or SIPP
Before you invest: Crypto ETNs are considered high risk. This is because the value of cryptocurrencies can be highly volatile, and if the issuer of the ETN goes bankrupt, you could lose all the money you invest. If you invest in Crypto ETNs, we suggest they should make up only a small part of an already diversified portfolio. This isn’t personal advice; if you’re unsure whether Crypto ETNs are right for you, consider taking financial advice.
Before you invest: Crypto ETNs are considered high risk. This is because the value of cryptocurrencies can be highly volatile, and if the issuer of the ETN goes bankrupt, you could lose all the money you invest. If you invest in Crypto ETNs, we suggest they should make up only a small part of an already diversified portfolio. This isn’t personal advice; if you’re unsure whether Crypto ETNs are right for you, consider taking financial advice.
What are Crypto ETNs?
Crypto Exchange Traded Notes (Crypto ETNs) are investments you can buy on the stock market that follow cryptocurrency prices. They give you exposure to crypto prices without holding any cryptocurrency yourself. Crypto ETNs are considered high-risk and may be volatile.
Simple
Trade Crypto ETNs just like stocks – no crypto wallet or exchange account needed.
Range of options
Choose from a range of Crypto ETNs that track different cryptocurrencies.
Regulated structure
Listed on recognised investment exchanges, with prescribed disclosures, processes, and custody standards.
How Crypto ETNs work
When you buy a Crypto ETN, you’re purchasing a note issued by a financial institution. The issuer uses your investment to buy and hold the underlying cryptocurrency on your behalf, through a regulated custodian. This means the ETN’s price moves in line with the cryptocurrency it tracks, and the price you see will reflect the current market value of that cryptocurrency, minus any fees.
With Crypto ETNs, you own a financial instrument that tracks a market price, rather than the cryptocurrency itself. Because of this, you won’t need a crypto wallet or private key to manage your investments, and as exchange-listed products, they can be bought and sold during market hours, like any other stock.
Are Crypto ETNs right for me?
Consider investing in Crypto ETNs if:
You understand that you could lose all your money, and accept large swings in value
You have enough experience with high-risk investments to make informed decisions
You're confident choosing your own investments and commit to monitoring them regularly to make sure they still meet your objectives
This isn't personal advice. If you're not sure whether Crypto ETNs are right for you, ask for financial advice. Investments rise and fall in value, and you could get back less than you invest.
Crypto ETNs charges
0.35%
0.35% annual account charge to hold Crypto ETNs in a Fund and Share Account or SIPP.
Your annual account charge is capped at £12.50 per month.
Dealing charges range between £3.95 and £6.95 per deal, depending on dealing frequency.
All Crypto ETNs have a fund management charge and have no initial, performance and redemption charges, separate to our platform fees.
How to deal Crypto ETNs with HL
Crypto ETNs are for more experienced investors with large, diversified portfolios who are able to take on more risk.
To buy, hold, or sell Crypto ETNs, you'll need a Fund and Share Account or a Self-Invested Personal Pension (SIPP) with us. If you don't already have one, you can open an account as part of the process.
Money in a pension is not usually accessible until age 55 (57 from 2028). Crypto ETNs are not eligible for investment in a Stocks and Shares ISA.
Take an eligibility test by self-certifying as an advanced investor.
You'll need to complete an online test to check if Crypto ETNs are right for you.
The Financial Conduct Authority (FCA) requires a 24-hour cooling-off period before you can view available Crypto ETNs.
Before investing, read the prospectus, charges, and other key information, including risks, for each Crypto ETN. Make sure you have enough cash in your account, and if you’re investing through a SIPP, be aware of the annual contribution limits.
Don't have a SIPP or Fund and Share Account with HL?
Crypto ETNs FAQs
Here you'll find answers to the most frequently asked questions around Crypto ETNs. Still unsure about anything? Get in touch with our team – we're always happy to help.
Crypto ETNs are available only to certain types of investors:
Restricted investors who intend to invest less than 10% of their net assets – excluding your home (primary residence), your pension (or any pension withdrawals), and any rights under qualifying contracts of insurance
Certified high-net-worth individuals with an annual income above £100,000, or net assets above £250,000 – excluding your home (primary residence), your pension (or any pension withdrawals), and any rights under qualifying contracts of insurance
Before you can buy a Crypto ETN, you’ll need to pass an appropriateness assessment confirming you have enough knowledge and experience. An FCA-required 24-hour cooling-off period also applies before you can trade.
Excluding Crypto ETNs, there are two ways to hold cryptocurrency:
Directly on the blockchain. You hold your own public and private keys, using a crypto wallet to manage them. It’s your responsibility to keep your keys safe - lose them, you’ll lose access to your cryptocurrency.
With a cryptocurrency custodian. A platform holds your keys on your behalf in exchange for a custody fee.
Crypto ETNs are a little different. With them, you hold a listed financial instrument on an investment platform.
You don’t own the cryptocurrency directly – you own a note that tracks its price, and because the underlying cryptocurrency is securely held by a regulated custodian, no wallet or keys are needed. Crypto ETNs trade like shares on the London Stock Exchange during market opening hours.
No. You can hold Crypto ETNs in a Fund and Share Account or in a Self-invested Personal Pension (SIPP) - there’s no need to set up a wallet or manage private keys.
No, Crypto ETNs are not covered by the Financial Services Compensation Scheme (FSCS), and the Financial Ombudsman Service does not cover poor investment performance. You should be prepared to lose all the money you invest - these are considered high-risk investments.
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