Saxo Launches Cryptocurrency ETN Investing in SIPPs & ISAs

Is crypto investing any good on Saxo?

Saxo has opened the door to cryptocurrency investing for UK retail clients through a curated selection of regulated Exchange-Traded Notes (ETNs) on Bitcoin and Ethereum, available in ISAs and SIPPs.

Pricing: Competitive standard share-dealing costs with no crypto markup, but charges a min of £8 per trade with a 0.12% account fee.
Market Access: A good range of Bitcoin and Ethereum ETNs that can be traded on the stock market, but lacks altcoins and other major cryptocurrencies for now
Platforms & Apps: SaxoTraderGO and SaxoInvestor offer excellent multi-asset integration for advanced traders, there is a simpler version for beginners.
Customer Service: Responsive UK support and detailed educational content, active and HNW investors get account executives.
Research & Analysis:  Frequent market insights and institutional commentary from analysts like Neil Wilson

What Saxo’s crypto service does and who it’s for

Saxo, one of the most established multi-asset trading and investing platforms, is now allowing UK retail clients to gain crypto exposure via Exchange-Traded Notes (ETNs).

After a four-year FCA ban on listed crypto products, Saxo’s move marks a major shift — offering a regulated way for retail investors to add Bitcoin and Ethereum exposure to their portfolios without holding the assets directly.

Unlike unregulated crypto exchanges, Saxo’s offering sits within its existing share dealing infrastructure. That means investors can buy and sell crypto ETNs alongside shares, ETFs, and bonds in their General Investment Accounts, Stocks & Shares ISAs, or SIPPs — provided they pass an appropriateness test confirming they understand the risks.

This makes it ideal for investors who want professional-grade access to crypto assets, combined with the security, reporting, and tax efficiency of a mainstream investment platform.

What are crypto ETNs on Saxo?

Saxo’s crypto rollout stands out for its regulated access and institutional-quality execution. By offering ETNs from trusted issuers such as 21Shares, Bitwise, CoinShares, Fidelity, Invesco, and WisdomTree, Saxo provides a higher level of product transparency and governance than most retail crypto exchanges.

These ETNs track the price of Bitcoin or Ethereum, including some staking variants, and are listed on major European exchanges. That means pricing, custody, and liquidity are overseen by regulated market operators rather than opaque offshore entities.

Investors should note that crypto ETNs still carry significant risk, including issuer credit risk and crypto market volatility, and are not covered by the Financial Services Compensation Scheme (FSCS). However, the move to allow crypto inside ISAs and SIPPs gives UK investors their first chance at tax-efficient crypto exposure in years.

While Saxo’s offering doesn’t yet include spot crypto trading, wallets, or altcoins, it provides a serious, compliant, and well-managed route to the sector — something most other retail brokers still lack.