Crypto ETNs in SIPPs

💡 Feature suggestions & ideas
1

Could Trading 212 please reconsider allowing Crypto ETNs in SIPPs?

  • The ISA rules and SIPP rules are different and should not be conflated.

  • HMRC’s restriction on Crypto ETNs applies to Stocks & Shares ISAs, not SIPPs.

  • HMRC has confirmed that Crypto ETNs can be held within pension products.

  • The FCA has opened retail access to listed Crypto ETNs, subject to investor protections and exchange listing requirements.

  • Crypto ETNs provide regulated, exchange-traded exposure and are arguably more suitable for a long-term pension wrapper than for short-term trading accounts.

  • SIPP investors can already invest in many higher-risk assets, including individual equities, investment trusts, emerging markets, commodities, and leveraged products. Crypto ETNs are consistent with the self-directed nature of SIPPs.

  • Other investment platforms appear to have already enabled Crypto ETNs within SIPPs, including Interactive Investor and AJ Bell, subject to appropriateness assessments and platform requirements.

  • This therefore appears to be a platform policy decision rather than a regulatory restriction.

As a long-term investor, I would like the option to allocate a small portion of my pension to FCA-approved, exchange-listed Crypto ETNs. It would be great if Trading 212 could explain the rationale for the current restriction and whether support is planned in the future.

References:

• FCA retail access to Crypto ETNs: FCA opens retail access to crypto ETNs | FCA

• HMRC pension treatment of Crypto ETNs: Tax treatment of cryptoasset Exchange Traded Notes | KPMG UK

• HMRC ISA guidance: Stocks and shares ISA investments for ISA managers - GOV.UK

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