UK: Guidance allowing cryptoasset exchange traded notes (cETNs) to be held in retirement savings accounts

Following regulatory permission for retail customers to hold cETNs

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october 16, 2025

Following the decision of the Financial Conduct Authority (FCA) to permit retail customers to hold cryptoasset exchange traded notes (cETNs), HM Revenue & Customs (HMRC) on October 8, 2025, published guidance allowing taxpayers to hold cETNs in “stocks and shares” individual savings accounts (ISAs).

However, HMRC noted that from April 2026, taxpayers would have to hold cETNs in “innovative finance” ISAs. HMRC also stated that cETNs will be permitted to be held inside pension products.

Read an October 2025 report prepared by the KPMG member firm in the UK

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