Stratiphy gets IFISA approval for 21Shares crypto ETNs

Stratiphy has received authorization to operate as an Innovative Finance ISA (IFISA) manager in the UK, allowing retail investors to hold 21Shares-listed crypto exchange-traded notes inside a tax-free ISA wrapper, the company said Wednesday.

The authorization permits Stratiphy to offer a range of 21Shares crypto ETNs within an IFISA, providing regulated, exchange-traded exposure to digital assets without direct ownership of the underlying tokens.

Two regulatory changes preceded the approval. In October 2025 the Financial Conduct Authority lifted a four-year ban on retail investors buying crypto ETNs tied to bitcoin and ether. At the start of 2026 HM Revenue & Customs revised ISA rules to require new purchases of crypto ETNs to be held in an IFISA rather than in a standard stocks and shares ISA.

Stratiphy says it is the first investment platform authorized to combine IFISA management with access to 21Shares-listed ETNs in a single solution. The company partnered with 21Shares to make the ETNs available inside its IFISA offering.

Daniel Gold, Stratiphy's CEO, commented in a company statement:

“We’re excited to be at the forefront of this important evolution in the UK investment landscape. With regulatory changes coming into effect, investors need a simple and compliant pathway to maintain exposure to digital assets. Our IFISA approval and partnership with 21Shares allow us to deliver exactly that.”

Since the London Stock Exchange approved crypto ETNs for retail trading in October 2025, 21Shares products have accounted for more than 40% of market share on the venue, with average daily trading volume around £6 million, the company said.

ETNs are debt instruments that track the price performance of an asset; they do not confer ownership of the underlying cryptocurrencies. An IFISA is an ISA wrapper for alternative finance products; holding ETNs inside an IFISA preserves the tax-free treatment for returns and gains that ISAs provide.

Stratiphy did not provide a timetable for when individual ETNs will become available inside its IFISA or whether there will be limits on eligible products.

The authorization will allow retail investors using Stratiphy's platform to include listed crypto exposure within their ISA allowances without moving holdings into a different ISA type.