UK Asset Manager Integrates Exchange-Traded Bitcoin Product

The issuer of a bitcoin exchange-traded note (ETN) based in Sweden has announced a new integration with UK investment service Hargreaves Lansdown.

AccessTimeIconJun 1, 2017 at 7:00 a.m. UTC
Updated Sep 11, 2021 at 1:24 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

The issuer of a bitcoin exchange-traded note (ETN) based in Sweden has announced a new integration with UK investment service Hargreaves Lansdown.

XBT Provider said that Hargreaves Lansdown clients with self-invested personal pension or brokerage accounts would be able to purchase ETN-related shares. The exchange-traded product first received approval from the Swedish government just over two years ago.

It's a significant integration, given the size and scope of Hargreaves Lansdown. The firm, founded in the early 1980s, is a publicly-listed company in the UK. As of 2016, Hargreaves Lansdown reported £61.7bn in assets under management, posting more than £200m in pre-tax profits for that year.

In statements, the ETN's backers positioned the move as one that would offer investors a new means of exposure to bitcoin.

"By adding self-service, online dealing, the team at Hargreaves Lansdown is providing UK investors with professional and quick access to the bitcoin space in the UK and greater Europe," Ryan Radloff, XBT's head of investor relations, said of the integration.

Image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.