UK FCA to Lift Retail Crypto ETN Ban on October 8, 2025
The UK's Financial Conduct Authority (FCA) will lift the ban on retail access to cryptocurrency exchange-traded notes (ETNs) starting October 8, 2025. This change follows a recent consultation and indicates a shift in the regulator’s stance on digital asset-linked investment products.
Key Points
- The FCA acknowledges increased market maturity and improved investor protection standards.
- Retail investors can buy regulated crypto ETNs listed on recognized investment exchanges.
- These products will not be covered by the Financial Services Compensation Scheme (FSCS).
- The ban on retail crypto derivatives remains in place.
Issuers' Requirements
- Issuers of crypto ETNs must comply with enhanced disclosure, promotion, and Consumer Duty requirements.
- This policy shift aligns with growing institutional demand for digital asset exposure.
- It underscores the UK's intent to become a competitive hub for regulated crypto investment products.