The United Kingdom officially lifted its multi -year retail ban on crypto exchange trade (ETNs) and said the digital asset market has matured enough for individuals to invest through regulated products, even though investors will have to wait a little longer to add them to their portfolios.
In a political update on Wednesday, Financial Conduct Authority (FCA) confirmed that retail investors can now buy Crypto ETNs (CETNS), listed on FCA-recognized exchanges, such as London Stock Exchange (LSE).
Crypto ETNs are exchange-dealing debt notes that track bitcoin or ether prices without giving investors direct coin ownership. They fall under the umbrella of Exchange-Traded Products (ETPS), which also includes exchange-traded funds (Etfs.)
While global ETNs typically do not require physical support, crypto -ethns on London must be fully physically supported by underlying assets contained by regulated custodians and cannot use leverage.
While the ban is officially lifted on Wednesday, there is a delay before retail investors will be able to add CETNs to their portfolios, which reports say FCA will only begin to accept prospectuses for potential products on September 25.
Crypto ethns in ISAs and pensions
The British tax authority, HM Revenue & Customs, said in a political paper that was published on Wednesday that Crypto ETNs can be held in shares and shares individual savings accounts (ISAS) and registered pension schemes reset allows investors to earn tax-free returns within these accounts.
From April 6, 2026, CETNs are reclassed as innovative financing of ISA (IFISA) investments, although their tax benefits will remain unchanged. Officials said the shift reflects the government’s obligation to diversify long-term savings options and integrate digital financing into mainstream investment structures.
London Stock Exchange is already showing Krypto -etns
London Stock Exchange is already showing several crypto -ethns from issuers such as 21Shares, Wisdomtree and etc. Group that was previously only available to professional investors. These products can now be accessed to retail investors through regulated platforms.
However, popular American-listed spot-crypto-ETFs like Blackrocks Ibit remain unjustified as they trade with dollars on non-UK exchanges and are not recognized under FCA rules.
Major ISA providers – including IG, AJ Bell and Hargreaves Lansdown – are expected to review the policy before activating CETNs on their platforms. The rolling is expected to be gradual as providers adapt observational systems and custody.
