WisdomTree has received approval from the UK’s Financial Conduct Authority (FCA) to offer its WisdomTree Physical Bitcoin and WisdomTree Physical Ethereum exchange-traded products (ETPs) to retail investors, the asset manager said.
The products, already listed on the London Stock Exchange for professional investors, are expected to become available via UK-regulated brokers from the week commencing 20 October 2025, subject to platform rollout and prospectus approvals.
The move follows an FCA policy reversal that lifts a four-year ban on retail access to certain crypto exchange-traded notes and products. Under the new rules, which took effect in October, eligible crypto ETPs must be admitted to trading on a UK-recognised investment exchange and will be distributed with additional consumer protections.
The FCA classifies these products as Restricted Mass Market Investments (RMMI), requiring brokers to run appropriateness tests, provide personalised risk warnings, and impose a 24-hour cooling-off period.
WisdomTree’s announcement highlights that the ETPs are physically backed and custody arrangements use institutional custodians; fee schedules and product mechanics are detailed in the issuer’s retail FAQ.
WisdomTree executives said making the ETPs available to retail clients is a “landmark moment” that allows investors to access bitcoin and ether through a familiar exchange-traded wrapper.
Market observers said the change could broaden retail participation in crypto via regulated channels, but cautioned that platforms will move at different speeds and investor protections remain limited, crypto ETPs are not covered by the Financial Services Compensation Scheme, and may carry high volatility and custodial risks.
Several major brokers have signalled plans to add crypto ETPs in mid-October, although some incumbents remain cautious.
The FCA’s policy pivot brings the UK closer to other markets that already allow retail access to regulated crypto ETPs, and could channel more institutional-grade custody and transparency into the market, provided distribution is carefully managed and consumer safeguards enforced.