21Shares Bitwise and WisdomTree List Bitcoin and Ethereum ETPs

The FCA lifted its ban on crypto ETNs, allowing UK retail access to Bitcoin and Ethereum ETPs.
21Shares, Bitwise, and WisdomTree launched their ETPs on the London Stock Exchange.
Bitcoin and Ethereum ETPs now available to UK investors through ISAs and SIPPs.
BlackRock also listed its Bitcoin ETP on the LSE following FCA approval for retail access.

Retail Investors in the UK Can Now Access Bitcoin and Ethereum ETPs
UK retail investors can now buy physically backed Bitcoin and Ethereum exchange-traded products (ETPs) for the first time. This follows a new decision by the Financial Conduct Authority (FCA), which has lifted a ban that prevented the sale of crypto ETNs to retail consumers since January 2021.

21Shares, Bitwise, and WisdomTree List Products on the LSE

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21Shares, Bitwise, and WisdomTree launched their crypto ETPs on the London Stock Exchange (LSE), opening the door for retail participation. These products track the price of Bitcoin and Ethereum and are physically backed by the underlying digital assets.

21Shares listed two products on the LSE with some of the lowest fees in the market. One of the products comes with a 0.1% fee, and its Ethereum ETP includes a staking feature. Russell Barlow, CEO of 21Shares, said, “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.”

WisdomTree followed with its own Bitcoin and Ethereum ETPs, offering fees of 0.15% and 0.35%, respectively. Alexis Marinof, Head of Europe at WisdomTree, stated, “The availability of crypto ETPs on the Main Market of the LSE demonstrates how far the market has evolved.”

Bitwise also listed its Bitcoin and Ethereum ETPs on the exchange and has temporarily reduced the fee for its Core Bitcoin ETP to 0.05% for at least six months. Bradley Duke, Bitwise’s Head of Europe, said the company is pleased to expand access in “Europe’s largest investment market.”

FCA Ends Four-Year Retail Ban on Crypto ETNs

The FCA introduced a ban in 2021 that blocked retail access to crypto derivatives and ETNs. The regulator argued that crypto products were unsuitable for retail due to high volatility and lack of understanding. The ban affected all UK-regulated platforms and brokers.

Earlier in 2024, the FCA made changes that allowed investment exchanges to list crypto-backed ETNs for professional investors only. Now, this updated rule extends access to retail investors using UK-regulated brokers and standard investment accounts.

Retail investors can now purchase these crypto ETPs through tax-efficient accounts such as ISAs and SIPPs. However, retail access to other crypto derivatives remains restricted, and these rules have not changed.

BlackRock and Market Outlook

BlackRock has also listed its iShares Bitcoin ETP on the LSE. This move was confirmed on the firm’s website and reported by the Financial Times. The listing reflects growing demand in the UK, where the number of crypto investors is expected to rise to 4 million in the next year.

Jane Sloan, Head of Global Product Solutions for EMEA at BlackRock, said that the listings give retail investors access to digital assets through traditional investment channels.

The UK is aligning more closely with other global markets such as the United States, Canada, and EU countries, where crypto ETPs are already available to retail clients. This shift comes as part of the UK government’s broader digital asset strategy.

Crypto Regulations and Next Steps

The FCA is continuing its phased approach to crypto regulation. While crypto ETPs are now available to retail investors, other parts of the crypto ecosystem remain under review. These include stablecoins, trading platforms, lending services, and custody rules.

Full regulation across these areas is expected in 2026. The FCA has stated that its goals are to ensure investor protection and financial stability while supporting innovation. Industry participants are watching closely as the UK develops its crypto framework over the coming year.

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