Mainstream UK trading platforms warn that cryptocurrencies should not be included in investment portfolios

A long-standing UK rule banning retail investors from participating in cryptocurrency exchange-traded notes, debt instruments tied to one or more specific assets that give investors access to digital tokens through regulated exchanges, was lifted on October 8. The new rules prompted a warning from Hargreaves Lansdowne, the UK's largest retail investment platform, which urged UK retail investors to exercise caution. "HL's investment view is that bitcoin is not an asset class and we believe cryptocurrencies do not have the attributes to be included in portfolios to achieve appreciation or yield, nor should they be relied upon to help clients achieve their financial goals." In a statement, the platform said that "the performance of cryptocurrencies cannot be properly analyzed and, unlike other alternative assets, they do not have intrinsic value." However, the company also said that it was aware that some traders wanted to "speculate through cryptocurrency ETNs" and planned to offer such trading opportunities to "eligible clients" starting in early 2026.