A UK trading platform has warned investors against including cryptocurrencies in their portfolios. This follows the lifting of a ban on retail investors accessing crypto exchange-traded notes (ETNs) on October 8, 2025.
Regulatory UK investment platform Changes in 2025
- The UK lifted a four-year ban on retail access to crypto exchange-traded notes (ETNs) on October 8, 2025.[1][2]
- The ban’s reversal aims to support the competitiveness and growth of the UK crypto sector.[3][4]
- Regulated crypto ETNs can now be traded on recognized exchanges and held in tax-efficient ISA and SIPP accounts, which total over $930 billion in assets.[4][5]
Industry Response and Risks
- Despite regulatory progress, the UK’s largest retail platform, Hargreaves Lansdown, strongly advises caution.
- They state, “Bitcoin is not an asset class” and emphasize that cryptocurrencies lack intrinsic value and are highly volatile.[6][7]
- The platform warns that crypto investments are riskier than stocks or bonds and should not be relied upon for long-term financial goals.
Market Developments and Prices
- Bitcoin’s current price is around $121,700 as of October 2025, with analysts forecasting potential fluctuations between $123,000 and $132,000 for the remainder of the year.[8][9]
- Longer-term forecasts vary; some analysts predict Bitcoin could reach $150,000 or higher by the end of 2025, supported by institutional adoption.[10][11]
- The broader regulatory landscape involves ongoing legislative discussions, with the UK government preparing detailed cryptoasset rules and supervision plans.[12][13]
Institutional and Market Trends
- Major US banks like Morgan Stanley and JPMorgan are expanding crypto offerings, signaling growing institutional acceptance.[14][3]
- Experts consider Bitcoin as a “digital gold” hedge, with some predicting continued upward momentum and new all-time highs before 2026.[11][10]
While UK regulators have reopened the market for retail crypto ETNs, caution remains paramount. Industry leaders advise investors to carefully consider volatility and intrinsic value concerns. Regulatory and market development are ongoing, aiming to balance innovation with investor protection.
