The FCA’s proposal to allow retail access to crypto exchange-traded notes (ETNs) does not lift the existing ban on crypto derivatives and exchange traded funds (ETF’s) for retail investors, which remain prohibited under current UK rules

Event date

June 6, 2025

Quotes that support claims

While the retail ban on crypto derivatives will remain in force

The FCA’s proposal does not extend to spot crypto ETFs like in the US through BlackRock and the Newborn Nine.

The FCA also explained that its ban on crypto derivatives for retail investors will remain in place.

However, the FCA’s ban on retail investors trading crypto derivatives, which came into effect at the same time as the exchange-traded notes ban, remains in place.

The ban on crypto exchange traded funds — which in the US have attracted billions of dollars of inflows — remains in place.

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Week 23 of 2025