UK’s FCA Greenlights Crypto ETNs for Retail Investors Starting October 2025
The Financial Conduct Authority (FCA) has reversed its 2021 ban on crypto exchange-traded notes (cETNs), permitting retail access from October 2025. Approved products must list on FCA-recognized exchanges and comply with financial promotion rules, though they remain excluded from investor compensation schemes.
"The market has matured significantly since our initial restrictions," said David Geale, FCA Director of Payments and Digital Finance. This shift aligns with broader UK crypto regulatory reforms, including upcoming stablecoin frameworks.