UK FCA to lift retail crypto ETN ban from October 8, 2025

The UK’s Financial Conduct Authority (FCA) will lift its four-year ban on retail access to cryptocurrency exchange-traded notes (ETNs) on October 8 ￰0￱ decision follows a consultation earlier this year and signals a shift in the regulator’s stance toward digital asset-linked investment ￰1￱ Access Ongoing Limits The FCA said the change reflects greater market maturity and stronger investor protection ￰2￱ investors will be allowed to buy regulated crypto ETNs listed on recognised investment exchanges though these products will remain outside Financial Services Compensation Scheme (FSCS) ￰3￱ ban on retail crypto derivatives will stay in ￰4￱ Rules for Issuers Issuers of crypto ETNs must meet enhanced disclosure

promotion and Consumer Duty requirements under the revised ￰5￱ policy shift comes amid rising institutional demand for digital asset exposure and highlights the UK’s effort to position itself as a competitive centre for regulated crypto investment products.