Core Viewpoint - The Financial Conduct Authority (FCA) in the UK has proposed to lift the ban on offering crypto exchange-traded notes (cETNs) to retail investors, which is expected to enhance digital asset adoption in the UK [1][2][3] Group 1: Regulatory Changes - The FCA's proposal aims to support innovation and competitiveness in the UK's digital asset sector while ensuring robust investor protection [2] - This change aligns the UK with global best practices, as crypto ETNs are already accessible to retail investors in other major European jurisdictions [2] Group 2: Company Response - 21Shares, a leading issuer of cryptocurrency ETPs, supports the FCA's move, emphasizing the need for cost-effective and regulated access to the digital asset economy for UK retail investors [3] - The announcement marks a reversal of the FCA's initial 2021 ban on retail access to crypto derivatives and ETNs, allowing retail investors to participate through trusted and transparent instruments [3] Group 3: Company Background - 21Shares has a significant track record, having listed the first physically-backed crypto ETNs on the London Stock Exchange in 2024, providing regulated access to digital assets for professional investors [3][4] - The company offers a comprehensive suite of physically backed ETPs, including exposure to Bitcoin and Ethereum, and is committed to engaging with the FCA and market stakeholders during the consultation process [4]