UK investors gain tax-free access to crypto ETNs via Innovative Finance ISAs

Stratiphy has secured authorization from UK regulators to operate as an Innovative Finance ISA (IFISA) manager, allowing it to offer retail clients a tax-free way to hold 21Shares cryptocurrency exchange-traded notes (ETNs), according to CoinMarketCap. The firm said on Wednesday that users can now access a selection of 21Shares-listed crypto ETNs through an ISA wrapper, gaining digital-asset exposure via exchange-traded instruments without owning the underlying tokens. Stratiphy said the launch comes as HMRC rules effective from the start of the current fiscal year require crypto ETNs to be held in IFISAs rather than standard Stocks and Shares ISAs. The company added that no platform had previously been approved to provide both products in a single offering. Two regulatory steps preceded the rollout. The Financial Conduct Authority (FCA) ended a four-year ban on retail purchases of Bitcoin- or Ethereum-linked crypto ETNs in October 2025. In early 2026, HMRC ruled that new purchases of these products can no longer be held in mainstream Stocks and Shares ISAs and must be placed in IFISAs. Daniel Gold, Stratiphy's CEO, said: "We are thrilled to lead this important transformation in the UK investment landscape. As regulatory policies evolve, investors need a simple, compliant pathway to maintain exposure to digital assets. Our IFISA certification and partnership with 21shares are designed precisely to meet this need." 21Shares is among the world's largest providers of crypto ETNs. Since the London Stock Exchange first approved crypto ETNs for retail trading in October last year, 21Shares products have taken more than 40% of the market, with average daily trading volume of about £6 million ($8.1 million).