The UK’s Financial Conduct Authority has proposed lifting its longstanding ban on crypto exchange-traded notes for retail investors, opening the door for broader access to regulated crypto exposure through public investment exchanges.
The move, announced June 6, forms part of a broader regulatory push to bolster market competitiveness and reduce barriers for financial firms.
Retail investors would be allowed to purchase crypto ETNs, debt instruments tied to digital asset prices, if these are listed on a recognized investment exchange and meet the UK’s financial promotion rules.
The FCA emphasized that safeguards would still apply, including requirements for risk disclosures and restrictions on promotional incentives, similar to the rules for direct digital asset sales.
Does the new FCA proposal allow spot Bitcoin ETFs?
The FCA’s proposal does not extend to spot crypto ETFs like in the US through BlackRock and the Newborn Nine.
ETNs (Exchange-Traded Notes) are unsecured debt secu
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