Wealth Manager - the site for professional investment managers

Register free for our breaking news email alerts with analysis and cutting edge commentary from our award winning team. Registration only takes a minute.

Hargreaves Lansdown offers second cryptocurrency ETN

Hargreaves Lansdown offers second cryptocurrency ETN

Cryptocurrency enthusiasts can now access a second instrument via Hargreaves Lansdown in the shape of an Ethereum exchange traded note (ETN).

Earlier this year, Hargreaves clients were given access to Bitcoin via an ETN which can be placed in a Sipp, although not an ISA.

Ether is the unit of cryptocurrency used on the Ethereum blockchain. The two ETNs, COINETH:SS and COINETHE:SS are denominated in Swedish krona and euro respectively.

Danny Cox, head of communications at Hargreaves Lansdown, described the new tracker as a ‘complex investment for sophisticated self-select investors.”

Swedish company XBT Provider is behind the deal with the UK's most popular online investment platform. XBT also runs the bitcoin product.

The move comes as interest in cryptocurrencies hits new highs with enthusiasts and sceptics getting ever more vocal in their views.

Bitcoin recently it a record high, passing through the $6,100 mark as more investors and a number of countries such, as Japan, start to embrace the cryptocurrency. Bitcoin now trades at around $5,700 with a market capitalisation of around £71.3 billion.

Ethereum is now the second most popular cryptocurrency and is trading at $309 with a market cap of £22 billion.

 

 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play CEO Tapes: dangerous data and great technology

CEO Tapes: dangerous data and great technology

In the third part of our latest series the debate turns to technology and the huge impact it is having on the fund management industry.

1 Comment Play Quilter CEO on IFAs, robos & his own DB transfer

Quilter CEO on IFAs, robos & his own DB transfer

In the final part of our interview with Paul Feeney, the Quilter chief executive declares that the government has 'left the ring' on savings policy, rounds on robo-advice, and reveals his own experience of the DB transfer market.

Play CEO Tapes: ESG - we need to get better at the 'G'

CEO Tapes: ESG - we need to get better at the 'G'

In the second part of our CEO series, we explore the burgeoning ESG concept with fund bosses outlining how they try to make a difference.

Read More
Wealth Manager on Twitter