Hargreaves Lansdown Offers Bitcoin Trading After Previous Rejection

British financial services firm Hargreaves Lansdown has announced that it will now allow retail investors to buy Bitcoin, marking a significant shift from its previous position where it deemed the cryptocurrency as “not an asset class.” The Bristol-based investment firm, which manages nearly £173 billion (over $233 billion) in assets, is now offering Bitcoin and other crypto exchange-traded notes (ETNs) to its clients.

Previously, Hargreaves Lansdown had cautioned customers about investing in Bitcoin, highlighting its volatility and risks compared to traditional assets like stocks and bonds. The firm stated, “While longer-term returns of Bitcoin have been positive, Bitcoin has experienced several periods of extreme losses and is a highly volatile investment.”

Now, the firm has made several ETNs that track the price of Bitcoin and other cryptocurrencies available, although it continues to warn clients that crypto ETNs are considered high-risk and may be volatile.

This decision follows a broader trend in the investment landscape, particularly after the U.S. Securities and Exchange Commission approved Bitcoin exchange-traded funds in 2024, leading to a surge of interest from investors who previously lacked access to such products.