Best crypto ETNs for 2025

Crypto ETNs are coming to UK retail investors. But which ones are worth watching first? We’ve rounded up some of the best crypto ETNs already listed on the London Stock Exchange (LSE), what they track, who issues them, and what you need to know before investing.

Here’s a look at some of the best Bitcoin and Ethereum ETNs expected to be available to UK investors in 2025.

Best UK cryptocurrency ETNs 2025

Search Bitcoin and Ethereum ETNs and find out which trading platforms support them.

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Underlying benchmark Show all Bitcoin Ethereum

Provider Show all 21Shares Bitwise CoinShares Fidelity Global X Invesco iShares Valour WisdomTree

ETN	Povider	Ongoing fee	Supporting platforms
21Shares Bitcoin Core ETP (CBTC)		0.1%	interactive investor Trading 212 Capital at risk
21Shares Bitcoin ETP (ABTC)		1.49%	interactive investor Trading 212 Capital at risk
21Shares Ethereum Staking ETP (AETH)		1.49%	interactive investor Trading 212 Capital at risk
21Shares Ethereum Core Staking ETP (ETHC)		0.1%	interactive investor Trading 212 Capital at risk
Bitwise Physical Bitcoin ETP (BTCE)		2%	interactive investor Trading 212 Capital at risk
Bitwise Core Bitcoin ETP (BTC1)		0.05%	interactive investor Trading 212 Capital at risk
Bitwise Physical Ethereum ETP (ZETH)		1.49%	Trading 212 Capital at risk
Bitwise Ethereum Staking ETP (ET32)		0.65%	interactive investor Trading 212 Capital at risk
CoinShares Physical Bitcoin ETP (BITC / BITP / BITP)		1.5%	interactive investor Trading 212 Capital at risk
CoinShares Physical Staked Ethereum ETP (CETH / ETHP / ETHE)		1.5%	interactive investor Trading 212 Capital at risk
Fidelity Physical Bitcoin ETP (FBTC)		0.75%	interactive investor Freetrade Trading 212 Capital at risk
Global X Bitcoin ETP (BTCX)		1.49%
Global X Ethereum ETP (ETHX)		1.49%
Invesco Physical Bitcoin ETP (BTIC)		0.99%	Freetrade interactive investor Trading 212 Capital at risk
iShares (BlackRock) Bitcoin ETP (IB1T)		0.15%	interactive investor Trading 212 Capital at risk
1Valour Ethereum Physical Staking ETP (1VET)		1.49%
WisdomTree Physical Bitcoin (BTCW)		0.95%	interactive investor Freetrade Trading 212 Capital at risk
WisdomTree Physical Ethereum (ETHW)		0.95%	interactive investor Freetrade Trading 212 Capital at risk

Our top picks for where to trade crypto ETNs

Platforms where you can invest in the best crypto ETNs

Most UK investing platforms are still laying the groundwork to let people invest in these products and these are some of the trading apps who’ve signalled they’re working on this:

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

What to look for when comparing the best crypto ETNs

Here are a few key things to consider before choosing which crypto ETN to invest in:

• Underlying asset. Bitcoin or Ethereum exposure are the only UK options right now. Your choice depends on whether you prefer Bitcoin’s “digital gold” appeal or Ethereum’s staking and DeFi ecosystem potential.
• Issuer reputation. Stick to trusted asset manager names, these issuers tend to have more transparent custody arrangements and stronger regulatory oversight.
• Fees and costs. Management fees (TER) vary and lower fees can help maximise your returns over time, but it’s not the only thing to care about.
• Liquidity. Higher trading volumes on the LSE can make it easier to buy or sell ETNs quickly and at fair prices.
• Staking yield. Some Ethereum ETNs offer staking rewards, these can enhance returns but come with additional smart contract and validator risks (so that’s a risk on risk sandwich).

Why invest in UK crypto ETNs?

Crypto ETNs could appeal to investors who want to gain crypto exposure within a regulated framework and through familiar platforms.

• Accessibility. ETNs will be available through mainstream brokers and investment platforms, alongside shares and ETFs.
• Simplicity. No wallets, private keys, or crypto exchanges are needed, everything is held and traded like a regular listed investment.
• Regulation. With FCA approval, UK investors can trade crypto ETNs under the same protections that apply to other exchange-traded products.
• Portfolio diversification. Bitcoin and Ethereum have historically shown low correlation with traditional assets, which may offer diversification benefits (though volatility remains high).

Key risks of crypto ETNs

Here’s an overview of the main downsides you need to think about before you start loading up on crypto ETNs:

• Market volatility. Crypto remains highly volatile. Prices can take a huge swing in a single day.
• Counterparty risk. Because ETNs are debt securities, your return depends on the issuer’s ability to meet its obligations.
• Regulatory uncertainty. FCA and HMRC policies on crypto products may continue to evolve, which could affect availability or tax treatment (like your ability to hold them in an ISA or SIPP, for example).
• Liquidity and tracking risk. Some ETNs are still relatively small, meaning price spreads may be wider and trading volumes lower in early months.

Bottom line

Crypto ETNs represent a major step toward bringing digital assets into the regulated UK investing landscape. With a growing range of Bitcoin and Ethereum ETNs available on the LSE, you’ll have safer, easier ways to gain exposure to crypto.

But remember, crypto’s volatility doesn’t vanish just because it’s wrapped in regulation. Understand what you’re buying, keep allocations small, and always check the issuer’s reputation before investing.

FAQs

• Can I invest in crypto ETNs right now?

  Not yet. They received FCA approval for retail investors from 8 October 2025, but individual platforms still need to add them before you can trade.

• Which are the top crypto ETN issuers?

  Some of the leading issuers include iShares, 21Shares, Bitwise, CoinShares, WisdomTree, Global X, Fidelity, and Invesco.

• Are crypto ETNs safe?

  They’re regulated and often physically backed by the underlying crypto, but they still carry issuer and market risk.

• What’s the difference between a crypto ETF and ETN?

  An ETF is a fund that holds assets directly. An ETN is a debt instrument issued by a financial institution that tracks the crypto’s price.

• Will more crypto ETNs be added?

  Yes. As the market matures, expect to see additional products covering more cryptocurrencies and potentially staking or blended crypto indexes.

*Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.

Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.