Britain has officially ended its multi-year ban on crypto exchange-traded notes (ETNs), marking a major step toward integrating digital assets into mainstream finance. The Financial Conduct Authority (FCA) announced that retail investors can now buy crypto ETNs listed on recognized exchanges such as the London Stock Exchange (LSE), citing the market’s growing maturity and stronger regulatory safeguards.

Crypto ETNs track bitcoin or ether prices without direct coin ownership and must be fully backed by underlying assets held by regulated custodians. Although the ban has been lifted, investors will need to wait before adding these products to portfolios as the FCA only began accepting prospectuses from issuers in late September.

The U.K. tax authority confirmed that crypto ETNs can be included in ISAs and pension schemes, allowing tax-free gains. From April 2026, they will qualify as Innovative Finance ISA (IFISA) investments, reinforcing the government’s push to expand digital investment opportunities.

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