British financial services firm Hargreaves Lansdown now allows retail investors to buy bitcoin through exchange-traded notes (ETNs). This marks a dramatic reversal for the asset manager overseeing nearly £173 billion in assets, which last year stated that bitcoin was « not an asset class. » The firm warns users that crypto ETNs are considered high-risk and may be volatile. The move comes as the U.S. Securities and Exchange Commission approved bitcoin ETFs in 2024 after a decade of rejections, with the funds achieving the most successful debut in ETF history, now collectively managing over $100 billion in assets.
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