The decision paves the way for broader digital asset adoption in the UK
London, 6 June 2025 - 21Shares, one of the world's leading issuers of cryptocurrency exchange-traded products (ETPs) and the first to list crypto ETNs on the London Stock Exchange (LSE), welcomes the Financial Conduct Authority's (FCA) announcement today proposing to lift the ban on offering crypto exchange-traded notes (cETNs) to UK retail investors.
The proposal aims to support innovation and competitiveness in the UK's digital asset sector while ensuring robust investor protection. Crypto ETNs are already widely accessible to retail investors in other major jurisdictions across Europe, and this change would bring the UK into alignment with global best practice.
"This is a landmark moment for the UK digital asset market," said Russell Barlow, CEO of 21Shares. "We fully support the FCA's move to provide regulated access to crypto ETNs for retail investors. Retail investors in the UK deserve cost effective, efficient and regulated access to the digital asset economy. This consultation represents real progress towards that goal and affirms the FCA's commitment to balancing innovation with investor protection as well as the UK's position as a leading global financial centre."
In 2024, 21Shares listed the first physically-backed crypto ETNs on the London Stock Exchange, providing professional investors in the UK with regulated access to digital assets. Today's announcement, which marks a reversal of the FCA's initial 2021 ban on retail access to crypto derivatives and ETNs, paves the way for retail investors to participate via the same trusted, transparent instruments.
21Shares looks forward to engaging constructively with the FCA and market stakeholders throughout the consultation process. The firm stands ready to support the expansion of regulated crypto access to retail investors with its comprehensive suite of physically backed ETPs, which includes exposure to Bitcoin and Ethereum.
Notes to editors
About 21Shares
21Shares is one of the world's leading cryptocurrency exchange traded product providers and offers the largest suite of crypto ETPs in the market. The company was founded to make cryptocurrency more accessible to investors, and to bridge the gap between traditional finance and decentralized finance. 21Shares listed the world's first physically-backed crypto ETP in 2018, building a seven-year track record of creating crypto exchange-traded funds that are listed on some of the biggest, most liquid securities exchanges globally. Backed by a specialized research team, proprietary technology, and deep capital markets expertise, 21Shares delivers innovative, simple and cost-efficient investment solutions.
21Shares is a member of 21.co, a global leader in decentralized finance. For more information, please visit www.21Shares.com
Media Contact
Matteo Valli
matteo.valli@21shares.com
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