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Crypto

UK restores tax-free access to crypto ETNs as startup Stratiphy launches service

UK retail investors can again hold cryptocurrency exchange-traded notes (ETNs) in tax-free accounts. Startup Stratiphy has secured approval to run an Innovative Finance ISA and launched a service that lets individuals buy 21Shares crypto ETNs in a tax-free structure. The launch comes after changes by the Financial Conduct Authority and HM Revenue & Customs altered how such products can be held. 21Shares said its products have gained more than 40 percent of the market.

Crypto

Coinbase to introduce TAS for institutions from May for XRP futures

Coinbase is adding a trade-at-settlement feature to XRP derivatives trading, allowing futures to be executed at an official settlement price rather than live market prices. It plans to introduce the function from May 1, filings submitted to the U.S. Commodity Futures Trading Commission showed. The feature will apply mainly to block trades and will cover nano XRP and standard XRP futures. Coinbase also cited bitcoin, ether, gold and crude oil.

Crypto

Grayscale to switch custodian for HYPE spot ETF from Coinbase to Anchorage

Grayscale plans to change the custodian for its Hyperliquid spot exchange-traded fund from Coinbase to Anchorage Digital Bank, reflecting the move in an amended S-1 filing with the U.S. SEC. Bank of New York Mellon will remain the transfer agent, and the fund will keep its CoinDesk benchmark rate. Grayscale said staking would be included subject to regulatory approval. The move comes as Coinbase dominates custody for most U.S. spot bitcoin ETFs.