Valour wins FCA nod to offer Bitcoin, Ether ETPs to UK retail
Valour, the United Kingdom subsidiary of DeFi Technologies, has received approval from the Financial Conduct Authority to offer crypto exchange-traded products to retail investors on the London Stock Exchange. The Bitcoin (BTC) and Ether (ETH) staking products, named 1Valour Bitcoin Physical Staking and 1Valour Ethereum Physical Staking, began trading on the exchange on Monday, according to a company notice.
“The UK is one of the world’s most important financial markets, and these approvals broaden our ability to serve UK retail investors with transparent, exchange-listed products that provide straightforward exposure to the evolving digital asset economy,” said Johan Wattenström, chairman and CEO of DeFi Technologies.
Valour previously announced in September that it would list a Bitcoin staking ETP on the London Stock Exchange limited to professional investors. The latest approval extends access to UK retail investors following the FCA’s decision in October to allow crypto ETPs for retail participation, which has prompted new offerings from asset managers such as Bitwise. The company’s UK launch follows its expansion in Brazil, where it introduced an exchange-traded product linked to Solana (SOL) in December. Valour did not immediately respond to a request for comment.
The London Stock Exchange reports that more than 50 issuers list over 2,300 ETPs on its venue. The exchange recorded about $280 million in trading volume for crypto ETPs in December.
Crypto ETPs post record weekly outflows
CoinShares reported on Monday that cryptocurrency exchange-traded products saw over $1.7 billion in outflows last week. James Butterfill, the firm’s head of research, attributed the reversal from $2.2 billion of inflows the prior week to dwindling expectations for interest rate cuts, negative price momentum, and disappointment that digital assets have not participated in the debasement trade.
Major issuers of crypto ETPs and exchange-traded funds include Grayscale Investments, Fidelity Investments, and BlackRock.
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