Market Trends - Crypto ETNs market in the UK is experiencing a "cut-throat" battle due to the lifting of the retail ban [1] - Issuers are slashing fees to record lows in the crypto ETNs market [1]

Regulatory Change - UK's FCA lifts ban on crypto ETNs for retail investors [1] - Access to crypto ETNs allowed via UK-approved exchanges [1]

Regulatory Updates - UK FCA to allow retail access to crypto ETNs (cETNs) starting October 8, 2025 [1] - cETNs must be traded on FCA-approved UK exchanges [1] - cETNs will not be covered by the Financial Services Compensation Scheme (FSCS) [1] - The ban on crypto derivatives remains in place [1]