đź“„ Note
The availability of Crypto ETNs is dependent on prospectus approval from the FCA and listing updates from the London Stock Exchange. We will make these instruments available for trading as soon as they are cleared by the issuers.
When will Crypto ETNs be available?
While the FCA is lifting its restrictions from October 8, 2025, the actual trading of these products can only begin once the ETN issuers have their prospectuses approved and the instruments are officially listed for retail trading.
We are monitoring the situation closely and will make these products available as soon as the providers launch them. In the meantime, you can prepare your account by completing the approval process below.
How to obtain approval to invest in Crypto ETNs?
To start trading Crypto ETNs under Trading 212 UK Ltd., you’ll need to complete a short approval flow required by the FCA:
- Restricted Investor Declaration: access to Crypto ETNs is available to clients who classify as 'Restricted Investors'. A Restricted Investor is someone who declares they will invest no more than 10% of their net assets in high-risk investments.
- Knowledge & Experience Check: Pass a short test to demonstrate you understand the Crypto ETN product and the risks involved.
24-hour Reflection Period – Wait out a mandatory cooling-off period before you can proceed. - Final Confirmation: After 24 hours, confirm you still want to trade.
Once all steps are completed, you will be able to access Crypto ETNs, as soon as they are made available by the issuers.
Are Crypto ETNs classified differently in the UK?
Yes. In the UK, the Financial Conduct Authority (FCA) classifies Crypto ETNs as Restricted Mass Market Investments (RMMIs). This means there is a mandatory approval process before they can be traded.
Which Crypto ETNs are available in the UK?
Only ETNs that reference Bitcoin or Ethereum and are listed on a UK Recognised Investment Exchange are available to trade.
Do I need to go through an appropriateness test for Crypto ETNs?
Yes. Because of their high-risk nature, Crypto ETNs have a dedicated appropriateness test in the UK.
This test checks both your crypto-asset knowledge and your experience with complex instruments.
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If you don’t achieve the minimum score, you won’t be able to trade Crypto ETNs.
Which account types can I use to invest in Crypto ETNs?
Crypto ETNs are available for the following account types with Trading 212 UK Ltd:
- General Investment Account (GIA)
- Stocks & Shares ISA