Retail crypto investing in the UK is about to expand. The Financial Conduct Authority (FCA) has officially confirmed that starting October 8, 2025, retail investors will be allowed to buy crypto exchange-traded notes (cETNs) — a notable reversal from its previous 2021 ban.
What Are cETNs?
Crypto ETNs are regulated investment products that track the price of cryptocurrencies like Bitcoin or Ethereum, offering exposure without the need to directly hold digital assets. Unlike ETFs, they’re typically debt instruments backed by the issuer.
Retail investors will now be able to access cETNs, provided they’re listed on FCA-approved, UK-based exchanges.
Key Regulatory Conditions
To protect consumers, the FCA has set strict rules for these products:
- Must be listed on FCA-recognized UK exchanges
- Adherence to financial promotion rules to prevent misleading advertising
- Compliance with the FCA’s Consumer Duty, which mandates avoiding foreseeable harm
However, the FCA warned investors that these products will not be covered under the Financial Services Compensation Scheme (FSCS) — meaning losses won’t be insured.
Why This Matters
The move comes as crypto investment products gain mainstream traction globally. In the U.S., crypto ETFs have already reached $146.4 billion in assets, according to SoSoValue. The UK’s decision signals growing confidence in regulated access to digital assets and could boost institutional and retail adoption in the country.
The shift also brings UK investors in line with global trends, offering safer and regulated crypto exposure.
Final Thoughts
The FCA’s green light for cETNs marks a milestone in the UK’s evolving crypto regulatory landscape. While investor protection remains a concern, the decision balances access with safeguards, paving the way for more inclusive crypto markets in the months ahead.
Will this spark a new wave of crypto participation across the UK? All eyes will be on October.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.