'Bitcoin is not an asset class': UK's biggest investment platform has a stark warning for investors

Core Viewpoint - A major U.K. trading platform has warned investors against including cryptocurrencies in their portfolios despite the recent lifting of a ban on retail access to crypto exchange-traded notes (ETNs) [2][3]. Group 1: Regulatory Changes - The longstanding U.K. ban on retail investors accessing crypto ETNs was lifted on October 8, allowing exposure to digital tokens through regulated exchanges [2]. - Investors can now hold crypto ETNs in stocks and shares ISA accounts, enabling tax-free investments up to £20,000 ($26,753) annually [4]. Group 2: Investment Platform's Stance - Hargreaves Lansdowne, the largest retail investment platform in the U.K., cautioned that cryptocurrencies should not be considered an asset class suitable for growth or income [3]. - The platform emphasized that performance assumptions for cryptocurrencies are not analyzable and stated that cryptocurrencies lack intrinsic value compared to other alternative asset classes [3].