The UK’s Financial Conduct Authority (FCA) is lifting a ban on crypto exchange-traded notes (ETNs) for retail investors starting Wednesday, provided they are traded on an FCA-approved UK-based investment exchange. BlackRock is looking into offering its iShares Bitcoin exchange-traded product for retail trading on or after Oct. 8.

Companies with UK operations, like CoinShares and Bitwise, will be able to offer exchange-traded products with digital asset exposure. Retail investors may have to wait up to a week to trade due to FCA only accepting prospectuses on Sept. 23, two weeks before lifting the ban. The regulator will review offerings and address any concerns.

The FCA has not indicated plans to lift a similar ban on ETFs or crypto derivatives for retail investors. The agency stated that the regulatory framework for funds needs updating before retail investors can access cryptoasset ETFs. In contrast, spot cryptocurrency-tied ETFs have been available for trading in the US since January 2024.

US lawmakers’ failure to pass a bill to fund the government beyond Oct. 1 has limited the SEC’s ability to review any crypto ETFs. The agency is currently operating with restrictions, impacting its review process. Hong Kong is not the loophole Chinese crypto firms may believe it to be.

Read more at Cointelegraph: Companies Weigh in as UK Prepares to Reverse Crypto ETN Ban