FCA Lifts Ban on Retail Crypto ETNs: Bitwise Launches New Products on London Stock Exchange
On October 24, 2025, a notable development in the European cryptocurrency landscape took place as the Financial Conduct Authority (FCA) officially lifted its ban on retail access to crypto exchange-traded notes (ETNs). This shift opens the door for broader retail investor participation in crypto markets.
In response to this regulatory change, Bitwise Europe, with advisory support from White & Case LLP, has launched a suite of retail-friendly crypto exchange-traded products (ETPs) on the Main Market of the London Stock Exchange as of October 20, 2025.
The newly launched products include:
Bitwise Physical Bitcoin ETP – designed to track the performance of Bitcoin, enabling investors to gain exposure to Bitcoin's price movements.
Bitwise Physical Ethereum ETP – providing investors access to Ethereum's performance.
Bitwise Core Bitcoin ETP – which follows the CME CF Bitcoin Reference Rate benchmark, ideal for investors seeking a professionally benchmarked Bitcoin product.
Bitwise Ethereum Staking ETP – a unique product that tracks Ethereum’s performance while generating additional returns through staking, appealing to investors interested in earning passive income.
These product launches signal the growing acceptance and integration of cryptocurrencies into mainstream financial markets, particularly for retail investors who previously faced restrictions.
For those looking to enter the crypto market with manageable commitments, platforms like Bitlet.app can be especially valuable. Bitlet.app offers a Crypto Installment service, which allows users to buy cryptocurrencies now and pay for them monthly, making crypto investing more accessible and budget-friendly.
This series of developments is a promising step toward enhanced crypto adoption and diversified investment opportunities for retail investors in Europe and beyond.