Jasmine Birtles
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Can I Hold Crypto In My ISA? New UK Crypto ETNs Say Yes!
Ruby Layram
25th Nov 2025
One of the most popular questions that I have received over the past 12 months is, “can I hold crypto in my ISA?”. And the answer is yes! Thanks to the introduction of crypto ETNs.
From October 2025 a new crop of regulated crypto ETNs (exchange-traded notes) listed on London markets opened the door for UK investors to buy Bitcoin and Ether inside Stocks & Shares ISAs. That’s a big change, and one investors need to understand properly before diving in.
Below I’ll explain what a crypto ETN actually is, which ones are already available, how you can hold them in an ISA, and the important caveats (especially a looming regulatory date you must know).
What is a crypto ETN (or ETP)? Quick, friendly explainer
Think of a crypto ETN like a stock that tracks the price of a cryptocurrency (Bitcoin, Ether, etc.). It’s an exchange-listed security issued by a financial firm that mirrors the crypto’s price, often backed by real crypto held in custody. The key points for everyday investors:
- Traded on exchanges like ordinary shares or ETFs.
- Regulated wrapper: the product itself is listed and regulated, even though the underlying crypto isn’t FCA-regulated.
- Custody & custody risk: issuers usually hold the crypto in institutional custody (cold storage), which removes the need to open an account on a crypto exchange.
- Tax wrapper friendly (for now): recent HMRC guidance permits certain crypto ETNs to be held in Stocks & Shares ISAs, with an important deadline to watch.
ETNs let you own crypto price exposure in your usual brokerage account, and, for a window of time, in your ISA.
Which crypto ETNs can I buy in the UK right now?
Several well-known issuers have launched products on London and European exchanges. Here are some of the bigger names (this is not exhaustive, there are more listed products, and new ones keep arriving):
- Bitwise Physical Bitcoin ETP (BTCE and related listings): a physically backed Bitcoin product launched onto LSE/European venues for retail investors. Bitwise launched several ETPs in October 2025.
- WisdomTree Physical Bitcoin ETP: a low-cost, physically backed Bitcoin ETP available on UK/EU trading venues.
- CoinShares Bitcoin & Ethereum ETPs / ETNs: CoinShares has long been a player in crypto ETPs and secured approvals to offer UK-facing ETNs. These give regulated exchange access to BTC and ETH exposure.
- Other providers / listings: the London market now lists multiple crypto ETPs from issuers including ETC Group, HANetf, and others. For a full, up-to-date list check a market tracker (JustETF or the LSE product list is handy).
If you want to compare fees and custody arrangements, look at each product’s factsheet, that’s where issuers list custody providers, storage insurance, and TER (ongoing charge).
Important regulatory twist: the April 6, 2026 deadline (important read)
This is the single most important thing to know: HMRC and the UK authorities have allowed crypto ETNs into Stocks & Shares ISAs, but only for a limited window. #
Products bought into a Stocks & Shares ISA from October 2025 have automatic eligibility, but from 6 April 2026 those same crypto ETNs will be reclassified and treated differently (expected to sit within Innovative Finance ISAs rather than Stocks & Shares ISAs).
That means some ISA platforms may require you to move holdings, or (worst case) you may be forced to sell if your platform doesn’t support the new classification after the change.
In plain English: don’t buy these casually in an ISA without understanding the admin and potential forced-sell risk.
Step-by-step: How to hold a crypto ETN in your Stocks & Shares ISA
If you’ve read the caveat above and still want to proceed, here’s a step-by-step guide.
1. Do your homework: Read the ETN factsheet. Check custody provider, insurance, TER, and how the ETN tracks the underlying crypto. Compare providers (Bitwise, WisdomTree, CoinShares, ETC Group, HANetf, etc.).
2. Check your platform supports the product: Not all UK brokers will list every ETN, and some platforms are being cautious about adding crypto ETNs to ISAs. Call or check the platform’s product list (Hargreaves, AJ Bell, HL, Trading212, Freetrade and others may add listings at different speeds).
3. Open / top up a Stocks & Shares ISA: If you don’t already have one, open a Stocks & Shares ISA and fund it. Remember annual ISA allowance limits apply as usual.
4. Place your order (buy the ETN like a share): Search by ticker on the platform (e.g., BTCE, GB00-style ISINs or local tickers). Place a market or limit order as you would for any stock or ETF.
5. Keep records and watch the April 6, 2026 rule: Save screenshots and factsheets. Revisit the HMRC guidance and your broker’s policy on reclassification — decide whether you’ll move the holding to a GIA/IFISA or sell before the deadline if required.
6. Treat it like a long-term, risky position: Don’t think of ISA tax shelter as a reason to be reckless. Crypto ETNs still reflect highly volatile underlying markets. Size the position appropriately, many advisers suggest a small allocation of your overall portfolio.
Final Thoughts
The UK opening its ISA doors to regulated crypto ETNs is a huge development, it’s made buying Bitcoin and Ether via regulated, exchange-listed products far easier for UK investors. But it’s not a free pass. The window of Stocks & Shares ISA eligibility is time-limited by current guidance and reclassification rules, and platforms may differ in how they handle the change.
If you understand the risks, are comfortable with volatility, and have a plan for the April 2026 reclassification, a crypto ETN in your ISA can be a neat way to get regulated crypto exposure, without ever touching a crypto exchange.
But don’t buy the hype! Keep position sizes small, read the factsheet, and know what your broker will do when HMRC’s rules change.
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Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence. When investing your capital is at risk.
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