Crypto asset managers 21Shares, Bitwise, and WisdomTree have officially opened retail access to their Bitcoin and Ethereum exchange-traded products (ETPs) in the United Kingdom, marking a major step forward for the country’s crypto investment landscape.
The move comes just under two weeks after the Financial Conduct Authority (FCA) ended its four-year ban on retail crypto exchange-traded notes (ETNs), a restriction that had limited access to professional investors since 2021. The decision now allows everyday UK investors to buy and hold regulated crypto ETPs through familiar investment channels such as standard brokerage accounts, ISAs, and SIPPs.
A Landmark Moment for Retail Investors
Following the FCA’s green light, 21Shares listed four physically backed products on the London Stock Exchange (LSE) on Monday — two for Bitcoin and two for Ethereum. Its Ethereum ETPs also include a staking component, while some of its Bitcoin products come with a reduced 0.1% management fee.
“Today’s launch represents a landmark step for the UK market and for everyday investors who, for years, have been excluded from regulated crypto products,” said Russell Barlow, CEO of 21Shares. “This is an important start, but not the finish line.”
21Shares had previously launched institutional crypto ETPs in the UK, claiming to have captured 70% of total turnover on the LSE. The firm’s UK head, Alex Pollak, previously described retail access as a “game changer” for the market.
Industry Leaders Join the Push
WisdomTree also launched its physically backed Bitcoin and Ethereum ETPs on the LSE, charging 0.15% and 0.35% fees respectively. The company highlighted the significance of the listing as a signal of the market’s growing maturity.
“The availability of crypto ETPs on the Main Market of the LSE demonstrates how far the market has evolved,” said Alexis Marinof, Head of Europe at WisdomTree. “Access and transparency are essential to building trust in this asset class.”
Bitwise, another major crypto asset manager, is listing its Bitcoin and Ethereum ETPs on Tuesday, temporarily cutting the fee for its Core Bitcoin ETP to 0.05% for the first six months.
“We’re excited to make our ETPs available to a much wider group of investors in Europe’s largest investment market,” said Bradley Duke, Bitwise’s Head of Europe.
Global investment giant BlackRock has also joined the momentum, listing its iShares Bitcoin ETP on the LSE this week.
“As the UK crypto investor base is projected to approach four million over the next year, products like the iShares Bitcoin ETP unlock a securer gateway to digital assets through traditional platforms,” said Jane Sloan, Head of Global Product Solutions for BlackRock EMEA.
Tara O’Connor
The End of a Ban, and the Start of a New Chapter
The FCA’s previous ban on retail crypto derivatives and ETNs, introduced in January 2021, was aimed at protecting consumers from high volatility and potential losses. The updated guidance, however, now allows recognized investment exchanges to offer crypto-backed ETNs to both institutional and retail investors under regulated conditions.
While broader crypto derivatives remain restricted for retail, the new framework positions the UK alongside jurisdictions like the U.S., Canada, Hong Kong, and several EU nations in expanding regulated access to digital assets.
The UK’s regulatory roadmap continues to evolve, with ongoing consultations covering stablecoins, trading platforms, lending, staking, and custody services. The FCA expects a comprehensive set of crypto regulations to take effect by 2026, part of the government’s strategy to make the UK a global hub for digital finance while ensuring robust consumer protection.
