The UK’s FCA proposes allowing funds to hold up to 10% in crypto ETNs.

The UK’s Financial Conduct Authority (FCA) has proposed allowing regulated retail investment funds to hold up to 10% of their assets in exchange-traded notes (ETNs) on crypto assets. The regulator deems a higher proportion inappropriate due to the speculative nature of the underlying assets and is not currently considering direct investments by authorized funds in cryptocurrencies.