Stratiphy Launches Tax-Free Account Services Supporting Crypto Assets

According to the Financial Times, UK-based startup Stratiphy will offer cryptocurrency exchange-traded notes (ETNs) alongside Innovative Finance ISAs (IF ISAs), allowing investors to hold crypto assets within accounts exempt from capital gains tax. Stratiphy provides three ETNs issued by 21Shares, which respectively track Bitcoin, Ethereum, and a Bitcoin-Gold combination product. The platform currently manages approximately £4 million in assets and serves around 2,000 clients. In October last year, the UK Financial Conduct Authority lifted a four-year ban on retail investors purchasing ETNs.