France adjusts cryptocurrency ETN retail rules, bringing new changes to the European market

TechFlow news, December 9 — The French Financial Markets Authority (AMF) has recently adjusted its policy to allow retail distribution of cryptocurrency index ETNs and removed the requirement for warning labels on eligible products. This move contributes to regional regulatory shifts, alongside the UK's lifting of the retail ban on crypto ETNs in October 2025 and Nordea Bank's plan to offer Bitcoin ETPs in December. Data shows that CoinShares holds a 32% share of assets under management in Europe’s crypto ETP market, with its physically backed platform recording $1 billion in net inflows year-to-date. The European crypto ETN market has seen €2.5 billion in inflows this year. These regulatory changes expand the potential market reach to include 14 million active retail investors in the UK, nearly one-quarter of French adults holding financial investments, and 9 million private clients across the Nordic region.