TechFlow news: On January 27, the UK’s Financial Times reported that Trading 212—one of Europe’s largest online investment platforms—offered retail investors in the UK trading services for cryptocurrency-linked exchange-traded notes (ETNs) without obtaining the necessary authorization from UK financial regulators.
In October 2025, the UK’s Financial Conduct Authority (FCA) lifted a ban originally imposed in 2021, allowing cryptocurrency ETNs to re-enter the UK retail market. However, these products—which track the prices of digital assets such as Bitcoin—are classified as bonds, requiring specific regulatory approval for sale to retail investors.
According to reports, Trading 212 only applied for additional authorization last week, after being contacted by regulators. As of Monday, the FCA’s register shows the company has now obtained permission to sell bonds. By contrast, competing platforms—including Interactive Investor, Fidelity, and Freetrade—already held the requisite sales authorizations when the ban was lifted.
According to an IG platform research report released in October 2025, the introduction of cryptocurrency ETNs could expand the UK’s cryptocurrency market by 20%.
