CoinShares Bitcoin and Ethereum ETN Bags UK FCA Approval

The UK Financial Conduct Authority (FCA) has approved the CoinShares Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Notes (ETNs) prospectus. According to the announcement, this move lets UK retail investors access regulated crypto asset-backed exchange-traded notes for the first time

CoinShares to Offer More Financial Products

With this decision, the leading digital asset investment firm in Europe can issue two new regulated products. These products are the CoinShares Physical Bitcoin Digital Securities and the CoinShares Physical Staked Ethereum Digital Securities. Each of these ETNs is physically backed, providing investors with a secure, transparent, and regulated access to Bitcoin and Ethereum.

The FCA’s approval marks a big change in how the UK views crypto investment products. Until now, UK retail investors couldn’t access crypto-backed ETNs due to market volatility and investor protection. However, under the new rules, the FCA accepts that well-designed and clear ETNs, such as those from CoinShares, can offer safer, more compliant access to digital assets.

For retail investors, this change provides a regulated way to participate in the digital asset market through familiar financial instruments listed on approved exchanges. Interestingly, this decision shows increased trust in crypto-backed securities and may lead to more digital asset products available for retail investors in the future.

CoinShares Eyes U.S. Listing

CEO Jean-Marie Mognetti called the second quarter of 2025 solid, noting crypto’s recovery and strong assets under management. He said Bitcoin and Ethereum highs in August could make the second half of 2025 even stronger

Beyond its quarterly numbers, CoinShares revealed plans to pursue a U.S. stock market listing. Currently headquartered in Jersey and listed on Nasdaq Stockholm, the firm believes moving to the U.S. will unlock greater shareholder value. He cited the recent U.S. listing of Bullish and Circle, both of which saw strong investor demand and rapid share price appreciation.

Mognetti also noted that regulatory conditions in the U.S. have improved significantly, with new legislation and political support creating an environment that favours innovation.

Exchanges Expands Crypto Services in the UK

In March, Kraken exchange received authorization from the UK FCA to operate as an Electronic Money Institution (EMI). This important achievement helped Kraken to improve its services in the UK. Like Kraken, Austrian cryptocurrency platform Bitpanda also received regulatory approval from the FCA. With the approval, Bitpanda can offer UK investors access to over 500 crypto assets.

Undoubtedly, this approval is a significant milestone for Bitpands, which had previously paused new user onboarding in the UK. The pause was due to FCA’s tightened Financial Promotions (FinProm) regime in late 2023.

Similarly, Coinbase cryptocurrency exchange secured a spot on the FCA register. This spot permits Coinbase to offer crypto services in the U.K. As such, Coinbase can offer crypto and cash services to U.K. investors and traders.

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