February 26 News: The UK’s investment policies will undergo significant changes in April 2026. Retail investors will no longer be able to purchase crypto exchange-traded notes (ETNs) through Individual Savings Accounts (ISAs). This change stems from Her Majesty’s Revenue and Customs (HMRC) reclassifying crypto-related products, placing them into accounts that do not qualify for ISA rules. This means investors will lose the ability to hold Bitcoin, Ethereum, and other crypto-related ETNs within tax-free accounts.
For a long time, ISAs have been a core tax-free investment tool for UK investors, used for stocks, funds, and certain exchange-traded products. Previously, the market generally expected that compliant products tracking digital asset prices, like crypto ETNs, might also be included in the ISA system. However, after the regulatory reclassification, platforms can no longer legally offer such products within ISA accounts. This policy change is a systemic regulatory issue rather than a platform-specific decision.
Mechanically, crypto ETNs essentially track the prices of crypto assets through traditional financial structures, avoiding direct custody of tokens, which appeals to some conservative investors. But with the reclassification, these products must now follow standard investment account rules, and future gains will be subject to capital gains tax. This will directly impact the UK’s crypto tax planning and long-term asset allocation strategies.
For retail investors, the restriction on ISA channels not only reduces tax efficiency but also limits portfolio diversification. Especially among younger investors, who previously preferred to allocate digital assets through compliant accounts, they may now be forced to hold cryptocurrencies directly or use non-tax-advantaged investment paths, increasing operational complexity and tax record-keeping requirements.
Meanwhile, the global regulatory environment is diverging. The U.S. has promoted the development of spot Bitcoin ETFs, with institutional funds continuously flowing into the digital asset market. In contrast, the UK’s restriction on crypto ETNs within ISAs reflects a more cautious regulatory approach. Supporters argue this helps reduce potential risks from highly volatile assets for retail investors, while opponents contend that regulated exchange-traded products may offer more transparency and risk control than unstructured investments.
Currently, investors can still hold crypto ETNs through regular brokerage accounts but will need to bear the associated tax obligations. As regulatory discussions continue, the future direction of UK crypto policies, the framework for compliant digital asset investments, and the scope of ISA applicability are likely to become key policy variables in the coming months.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Pakistan’s government: The format of the U.S.-Iran negotiations is still unclear, and we have already made preparations to coordinate and facilitate a middle-ground resolution
Gate News: On April 11, an authoritative Pakistani government source said that although the United States and Iran had already confirmed that talks would be held on that day, the format of the negotiations is currently still undecided. The source said that the two sides have made a number of arrangements for the talks, including a “face-to-face” format and a “back-to-back” format. Pakistan has been prepared to facilitate the two sides for face-to-face talks, and also to conduct negotiations in a “back-to-back” manner by transmitting information through Pakistan as an intermediary. (Xinhua News Agency)
GateNews2h ago
Iran has announced the composition of the U.S. negotiation delegation, consisting of 71 people, including the speaker and the foreign minister.
Iran announced on April 11 a 71-member delegation for negotiations with the United States. The delegation is led by Speaker of Parliament Kalibaf. Members include Foreign Minister Aragchi and multiple experts. The U.S. delegation has 300 members, covering multiple areas such as security.
GateNews2h ago
Bank of America research report: The global economy’s dependence on oil has fallen to one-third of what it was in the 1970s. Huatai Securities says gold’s safe-haven appeal has stopped working
A U.S. bank research report said that since the 1970s, the global economy’s reliance on oil has declined, and the oil required now is only one-third of that at the time, with economic resilience strengthening. In addition, Haitong Securities’ analysis found that gold did not exhibit safe-haven characteristics; after experiencing a pullback due to geopolitical shocks, it rebounded.
GateNews3h ago
Bitcoin Posts Its Strongest Weekly Gain Since October 2025: CPI Cooldown and US-Iran Ceasefire Provide a Double Boost, Lifting the Price to $73K
Bitcoin’s weekly gain this week reached nearly 7%, marking the strongest single-week performance since October 2025, as the U.S. core CPI data came in below expectations and a ceasefire agreement between Iran and Israel boosted market sentiment. The price briefly broke through $73,000. Market expectations have intensified that the Federal Reserve may start cutting rates sooner, and technical indicators show volatility compression, suggesting that significant price swings may be ahead. In the short term, attention should be paid to the ceasefire negotiations and the Federal Reserve’s policy direction.
ChainNewsAbmedia5h ago
White House official: Trump privately admitted that the Strait of Hormuz will be difficult to fully reopen in the short term
Gate News message, April 11, according to Reuters, a senior U.S. White House official said that skepticism is pervasive inside the White House. The official said that during recent conversations with his advisers, Trump seems to have acknowledged that the Strait of Hormuz is unlikely to fully reopen in the short term. However, at the same time, on Thursday Trump posted on social media that oil supplies will be restored soon, but provided no further details.
GateNews7h ago
Iran's Speaker of Parliament: If the U.S. side is staging a show for negotiations, Iran is already prepared to defend its rights
Gate News message. On April 11, Iranian Islamic Parliament Speaker Qalibaf said in a statement delivered in Islamabad, Pakistan’s capital, at around 1 a.m. local time on the 11th that Iran is sincere about negotiations with the United States, but does not trust the U.S. side. The reason is that the parties’ previous negotiations “have always ended in failure and betrayal.” Qalibaf said that if the U.S. side tries to use this round of talks to put on a show, Iran is prepared to defend its own rights.
GateNews7h ago
