UK Asset Manager Adds Support for Ethereum Exchange-Traded Product

UK-based asset manager Hargreaves Lansdown is moving to offer its customers access to two ethereum-based exchange-traded notes (ETNs).

Oct 26, 2017 at 10:35 a.m. UTC
Updated Sep 13, 2021 at 7:05 a.m. UTC

UK-based asset manager Hargreaves Lansdown is moving to offer its customers access to two ethereum-based exchange-traded notes (ETNs).

According to a report by CityWire,  the asset manager is opening its doors to two ethereum-tied ETNs – named COINETH:SS and COINETHE:SS – that are denominated in Sweden's national currency, the krona, and the euro, respectively. The move comes just months after the company first began offering its client base some degree of access to the cryptocurrency market.

In June, the firm – which was founded in the 1980s and boasted more than £61 billion in assets under management last year – announced that it was working with Swedish firm XBT Provider to allow its customers to buy shares in an ETN tied to bitcoin. That ETN, traded on Sweden's Nasdaq exchange, was first approved in 2015.

The idea behind securities like XBT's ETNs is that, rather than investing directly in the market through the purchase of a cryptocurrency, investors can buy exposure through related instruments instead.

Danny Cox, head of communications at Hargreaves Lansdown, described the offering as a "complex investment" for select investors.

 image via Shutterstock

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
First Mover Asia: Bitcoin Dominates but Altcoins Lurk

Although Terra's collapse has raised existential questions about the future of DeFi, some traders appear to be preparing for a return to altcoins; BTC remains rangebound below $30,000 in Tuesday trading.

Although Terra's collapse has raised existential questions about the future of DeFi, some traders appear to be preparing for a return to altcoins; BTC remains rangebound below $30,000 in Tuesday trading.

CoinDesk - Unknown
2
CoinDesk - Unknown
NEAR Protocol

CoinDesk - Unknown
3
CoinDesk - Unknown
MOBOX

CoinDesk - Unknown
4
CoinDesk - Unknown
Moonriver

CoinDesk - Unknown