FCA says crypto still ‘ill-suited’ for retail investors despite ETF launches
The Financial Conduct Authority is remaining firm on its stance of keeping cryptocurrency products out of retail investors’ portfolios, despite relaxing its rules for some professional investors earlier this year.
A spokesperson for the FCA told Citywire that crypto ETFs remain ‘ill-suited’ for retail buyers. The same rules mean mainstream multi-asset funds or portfolios aimed at the same audience are also barred from buying these increasingly popular assets.
Critics and indeed those who sell these ETFs, which gained approval to list in London for the first time in May, say that is overly cautious and could hinder the UK’s ability to maintain its position as a global financial centre.
