UK investors regain tax-free access to crypto ETNs via Innovative Finance ISA route

Stratiphy has obtained regulatory approval as an Innovative Finance ISA (IFISA) manager in the UK, enabling retail investors to hold 21Shares crypto exchange-traded notes (ETNs) within a tax-free wrapper. This development allows Stratiphy users to gain exposure to digital assets through ETNs without directly owning the underlying tokens. The timing is significant as HMRC rules now mandate that crypto ETNs must be held within an IFISA, not traditional stocks and shares ISAs. This follows the Financial Conduct Authority's lifting of a ban on retail investors buying crypto ETNs in October 2025 and HMRC's subsequent ruling at the start of 2026. Stratiphy CEO Daniel Gold highlighted the need for a compliant pathway for digital asset exposure, which their IFISA approval and partnership with 21Shares provide. 21Shares, a major global crypto ETN provider, has secured over 40% market share on the London Stock Exchange since crypto ETNs were approved for retail investors.

(Source：The Block)