UK Regulator Proposes 10% Crypto ETN Exposure for Mutual Funds
The Financial Conduct Authority (FCA) has proposed allowing certain retail investment funds in the U.K. to allocate up to 10% of their assets in cryptocurrency exchange-traded notes (ETNs), according to CoinDesk. This move is intended to expand access to crypto investment options while mitigating risks associated with such exposure.
The U.K. Financial Conduct Authority (FCA) has proposed a measure that would enable select retail investment funds to invest up to 10% of their assets in cryptocurrency exchange-traded notes (ETNs). This recommendation applies specifically to "Undertakings for Collective Investment in Transferable Securities" (UCITS) and some non-UCITS retail schemes (NURS), both of which function similarly to mutual funds by pooling capital from individual investors into managed portfolios.
The FCA outlines this proposal in its latest quarterly consultation paper, aiming to broaden access to crypto ETNs while managing potential risks. The regulator remarks, "Our proposed 10% limit for UCITS and NURS would also mitigate the risk of significant impacts arising from crypto ETN exposure." This development follows the FCA's earlier decision in October 2025 to lift a ban that had prevented retail investors from accessing such funds since 2021.
This proposal could be viewed as a significant step toward the greater acceptance of cryptocurrency exchange-traded products (ETPs) within the U.K. market. However, decisions regarding the regulatory framework surrounding crypto investments have occasionally drawn criticism. Observers have pointed out that stringent regulations risk placing the U.K. at a competitive disadvantage compared to other jurisdictions with more favorable conditions for crypto investments.
As the FCA continues to explore the regulatory landscape for cryptocurrencies, it remains crucial to monitor the responses from the investment community and the broader financial market. The outcome of this consultation and any subsequent regulatory changes may influence how retail investors engage with cryptocurrency assets moving forward.
Summary based on original reporting by Jamie Crawley at CoinDesk, originally published Jun 9, 2026. SolanaWire does not republish source content.
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