Trading 212 has launched cryptocurrency-linked exchange-traded notes (ETNs) for UK retail investors, despite initially lacking the necessary regulatory approvals. The UK's Financial Conduct Authority (FCA) had lifted a ban on crypto ETNs in October 2025, but these products require specific licenses to be sold to retail investors. Trading 212 applied for the required licenses only after being contacted by regulators, and as of Monday, the FCA register confirmed the company had obtained the necessary approval. Competing platforms like Interactive Investor, Fidelity, and Freetrade had already secured the required licenses when the ban was lifted. A report by IG platform suggests that the introduction of cryptocurrency ETNs could expand the UK cryptocurrency market by 20%.