UK Set to Remove Restrictions on Crypto ETNs: CoinShares, Bitwise Poised to Offer ETPs Shortly

Beginning on 8 October 2025, the UK is set to remove its restriction on crypto exchange-traded notes (ETNs) for individual investors. Bitcoin offerings will make a comeback to the UK after a two-year hiatus!

Firms like Bitwise, which is registered in the UK, took to X on 3 October 2025 to rejoice over the chance “to serve more investors in our home trading market in Europe at last.”

The UK’s Financial Conduct Authority (FCA) announced this as David Geale, the executive director of payments and digital finance at the FCA, stated, “Since we restricted retail access to cETNs, the trading market has matured, and products have gained mainstream acceptance and better understanding. Given this context, we’re offering consumers more options while ensuring protections are in place. This should allow individuals to receive the information necessary to evaluate whether the risk level aligns with their preferences.”

Nonetheless, the FCA provided clarifications and called for an announcement to the regulatory framework. “ETFs aimed at UK retail investors currently cannot invest directly in cryptoassets under our existing regulatory framework for funds. This framework must be revised before retail investors are able to access cryptoasset ETFs,” the FCA remarked.

BREAKING: The United Kingdom to end its 2021 retail prohibition on crypto ETNs on October 8th.

What a thrilling Uptober! pic.twitter.com/NBizthfFbC

— Tim Warren (@TimWarrenTrades) October 5, 2025

Industry Reactions: BlackRock, Bitwise, CryptoUK Share Insights

As BlackRock reportedly looks into making its iShares BTC exchange-traded product available for UK retail investors, Bitwise has shown excitement about finally being able to engage UK investors and broaden its influence in Europe.

Ian Taylor from CryptoUK, a digital assets industry group, praised the decision. He noted that the UK had been “an outlier on ETNs” up to this point.

Rumors suggest that CoinShares and Bitwise are preparing their offerings, but retail investors might have to wait at least a week due to the timing of the FCA’s application assessment processes.

Meanwhile, the crypto community, particularly in the UK, has turned to X to celebrate the lifting of the ban.

The prohibition on the sale of crypto ETNs to retail investors in the UK has been enforced for nearly five years, since 6 January 2021. Throughout this period, the value of BTC has surged by more than 250%.

I’m thrilled that my government is looking out for investors.

— Rich (@rich_rdctd) October 6, 2025

Read More: What Is Crypto Passporting? Adrienne Harris Advocates For US-UK Passporting Scheme

Adrienne Harris Endorses US-UK Passporting Scheme

A new dimension of international financial regulation is crypto passporting. Mirroring how European Union (EU) financial service firms can operate across member nations under a unified license, a US-UK passporting arrangement could emerge. Crypto businesses encounter significant challenges when expanding internationally. For instance, a company based in New York attempting to grow in London will face costs and delays. Crypto passporting would permit crypto firms regulated in one country to operate in another without having to navigate the full authorization procedures.

Simon Jennings, executive director of the UK Cryptoasset Business Council trade organization, stated, “Co-ordinated compliance, including the possibility of digital asset passporting, would boost investor security, lower compliance costs, and enhance interoperability in cross-border markets.”

Adrienne Harris, the outgoing head of New York’s Department of Financial Services (DFS), has expressed her support for the US-UK crypto passporting framework. “Ideology should not be present in financial crypto law,” Harris remarked. “It is possible to protect consumers while also fostering business; these can coexist and enhance one another.”

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The post UK Prepares To Lift Ban On Crypto ETNs: CoinShares, Bitwise Will Be Able To Offer ETPs Soon appeared first on 99Bitcoins.