UK Ends Four-Year Ban on Crypto ETNs as FCA Expands Retail Access

The UK’s Financial Conduct Authority has lifted its four-year ban on crypto exchange-traded notes (ETNs), enabling retail investors to gain exposure to cryptocurrencies without directly holding them. The move follows years of market development and positions the UK alongside other jurisdictions adopting regulated crypto products. Analysts expect the decision to boost adoption, with tax-efficient options like pensions and ISAs set to include ETNs from 2025 and 2026, respectively.