UK Lifts Retail Ban on Crypto ETNs, Fueling Potential Investment Boom

On October 8, 2025, the UK Financial Conduct Authority (FCA) removed the retail ban on crypto Exchange-Traded Notes (ETNs). This move allows individual investors to access these products through FCA-approved exchanges. While market reactions and further competition from major exchanges are still unfolding, this change offers a potential boost in investment demand for Bitcoin and Ethereum ETNs within tax-advantaged accounts such as ISAs and pensions.