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FCA to Reinstate Retail Trading of Crypto ETNs in October

The FCA says evolving market infrastructure justifies allowing retail investors to trade crypto ETNs under strict promotional rules.

crypto in the UK
UK FCA to allow retail investors to trade crypto ETNs starting October 2025
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Fca to allow retail investors to gain access to crypto etns starting october

Overview

  • Retail investors will be able to buy crypto exchange-traded notes listed on Recognised Investment Exchanges starting October 8, 2025.
  • The FCA will continue to ban retail trading of crypto derivatives, citing consumer protection concerns.
  • Crypto ETNs will carry full market risk for individuals because they will not benefit from Financial Services Compensation Scheme protection.
  • Firms offering these products must comply with the FCA’s financial promotion rules and Consumer Duty requirements to ensure clear risk disclosures.
  • The regulator pointed to increased transparency and professional uptake, as well as global approval of spot crypto ETFs, when supporting the policy shift.