An ETN cannot be included in a tax-free account.
Exchange Traded Notes
An ETN (Exchange Traded Note) is a senior, unsecured debt security issued by a bank. As with any other debt, investors are subject to the credit risk of the bank issuing the debt and if the bank goes bankrupt you become a creditor. An ETN also has an expiry date and at expired the issuer will either pay our cash to holders or offer the option to roll into a new ETN covering the same