Valour Wins FCA Approval to Offer Crypto ETPs to Retail Investors in London
What Did the FCA Approve?
Valour, the UK subsidiary of digital asset firm DeFi Technologies, has received approval from the Financial Conduct Authority to offer crypto platform-traded products to retail investors on the London Stock platform. The approval covers two staking-linked products tied to BTC and Ether, which began trading on the platform on Monday.
The products, named 1Valour BTC Physical Staking and 1Valour ETH Physical Staking, give retail investors listed-market exposure to staking-linked crypto returns through platform-traded instruments. Until now, similar products on the had largely been restricted to professional investors.
Valour had announced plans in September to list a BTC staking ETP in London, but that product was limited to institutional participation. The latest approval follows the FCA’s decision in October to lift its long-standing ban on retail access to and products, opening the door for broader distribution.
“The UK is one of the world’s most significant financial markets, and these approvals broaden our ability to serve UK retail investors with transparent, platform-listed products that provide straightforward exposure to the evolving digital asset economy,” said Johan Wattenström, chairman and chief executive of DeFi Technologies.
Investor Takeaway
Why This Matters for the UK Crypto Market
The FCA’s decision marks a clear change from the cautious stance it adopted in 2021, when retail crypto ETPs were effectively pushed out of the UK market. By allowing listed products tied to major assets such as BTC and Ether, regulators are now permitting exposure through regulated venues rather than offshore platforms.
For the London Stock platform, the approval strengthens its role as a venue for regulated crypto products at a time when European platforms are competing for issuance. According to LSE data, more than 50 issuers list over 2,300 platform-traded products on the platform, with crypto-linked ETPs accounting for roughly $280 million in trading volume in December.
That volume remains small compared with equity or fixed-income products, but it reflects steady demand from investors who prefer listed instruments over direct token ownership. The FCA’s approval expands that addressable market to include UK retail investors, rather than limiting participation to institutions and wealth managers.
Asset managers including Bitwise have already begun launching products following the rule change, and Valour’s staking-linked structure adds a new layer by combining listed exposure with yield-based crypto strategies.
How Valour Is Expanding Across Regulated Markets
The UK approval builds on Valour’s recent activity in other regulated jurisdictions. In December, the firm launched a Solana-linked platform-traded product in Brazil, adding to a growing roster of crypto ETPs listed on local platforms.
That international rollout reflects a strategy focused on jurisdictions where regulators permit listed crypto exposure under clear rules. Rather than relying on unregulated access points, Valour has targeted markets where platform-traded structures offer a compliant route to investor participation.
Cointelegraph contacted Valour for comment on its UK expansion but did not receive a response by the time of publication. The company has previously framed its product launches as a way to bridge traditional .
For UK investors, the immediate effect is greater choice within a regulated framework. For issuers, the approval sets a precedent that could encourage additional staking-linked or yield-based products tied to major crypto assets.
What the Broader ETP Market Is Facing
The launch comes against a more challenging backdrop for crypto platform-traded products globally. CoinShares reported that crypto ETPs saw more than $1.7 billion in outflows last week, reversing inflows of roughly $2.2 billion the week before.
James Butterfill, head of research at CoinShares, attributed the reversal to reduced , fragileer price action, and frustration that digital assets have not tracked broader currency-debasement narratives.
Despite the recent outflows, large asset managers continue to expand their presence in crypto-linked products. Firms such as Grayscale Investments, Fidelity Investments, and BlackRock remain active issuers, underscoring the gap between short-term flows and long-term product development.
Investor Takeaway
What Comes Next
With FCA approval now in place, the focus will shift to demand. ahead trading activity in Valour’s BTC and Ether staking ETPs will offer clues about how UK retail investors approach yield-linked crypto exposure within listed markets.
The approval also raises questions about how far the FCA is willing to go in allowing more complex crypto-linked structures for retail distribution. For now, products tied to large, liquid assets appear to sit at the center of regulatory comfort.
As more issuers enter the UK market, competition is likely to center on fees, liquidity, and product design rather than access itself. The reopening of the retail channel has changed the landscape, even as broader crypto sentiment remains uneven.
