UK May Lift Crypto ETN Ban as Circle IPO and Bitcoin Moves Signal Market Shift

UK Considers Lifting Retail Ban on Crypto Exchange-Traded Products

The United Kingdom's Financial Conduct Authority (FCA) has proposed lifting its ban on retail investors purchasing exchange-traded products (ETPs) and exchange-traded notes (ETNs) tied to cryptocurrencies. This move is aimed at enhancing the UK's competitiveness in the global crypto market, particularly in response to the resurgence of the US crypto sector under Donald Trump. According to Bloomberg.com, the FCA's proposal would allow existing ETNs linked to tokens such as Bitcoin and Ether to be sold to retail buyers, provided these products are traded on an FCA-approved exchange. Previously, such products were only accessible to professional investors on venues like the London Stock Exchange.

Cointelegraph further reports that the FCA's June 6 announcement emphasized the intention to "rebalance our approach to risk," allowing individuals to decide if high-risk investments like crypto ETNs are suitable for them, given the potential to lose all their money. David Geale, executive director of payments and digital assets at the FCA, stated, "We want to rebalance our approach to risk, and lifting the ban would allow people to make the choice on whether such a high-risk investment is right for them, given they could lose all their money." The move is seen as aligning with the UK's ambition to position itself as a sophisticated jurisdiction in the crypto space, according to Diego Ballon Ossio, partner at Clifford Chance. Bivu Das, Kraken’s UK General Manager, described the proposal as "a major milestone for the UK’s crypto ecosystem." Ian Taylor, board adviser to CryptoUK, expressed hope that the change would improve consumer protections.

Summary: The FCA's proposal to lift the retail ban on crypto ETNs could significantly broaden access to crypto investments for UK consumers, marking a notable shift in regulatory stance. (Sources: Bloomberg.com, Cointelegraph)

Circle's Blockbuster IPO Sets Stage for More Crypto Public Listings

According to Reuters, shares in Circle surged during its debut on the New York Stock Exchange, signaling strong investor interest in the stablecoin firm. Analysts view Circle's successful IPO as a bellwether for future crypto-related public listings. The article notes that Congress is poised to pass a stablecoin bill this year, which could further legitimize and support the growth of the sector.

Circle's performance is being closely watched by both industry insiders and policymakers, as it may pave the way for other crypto companies to pursue public offerings. The article highlights that the stablecoin market is gaining increasing attention from regulators and investors alike, with Circle's IPO serving as a significant milestone for the industry.

• Circle's shares surged in NYSE debut
• Seen as a bellwether for future crypto IPOs
• Congress expected to pass stablecoin legislation in 2025

Summary: Circle's strong IPO performance is expected to encourage more crypto firms to go public, with regulatory developments in the US likely to further shape the market. (Source: Reuters)

Massive $767,696,757 Bitcoin Transfer Stuns Kraken Exchange

U.Today reports that a major Bitcoin transfer, valued at $767,696,757, was made from the US-based crypto exchange Kraken to an unknown wallet. The transfer involved 7,402 BTC, and was detected by blockchain tracker Whale Alert. The anonymous whale now holds 28,060.53711783 Bitcoin, worth $2,910,803,697 at the time of reporting.

Additionally, Metaplanet, often referred to as the “Japanese MicroStrategy,” announced a plan to acquire 210,000 Bitcoins by the end of 2027. To achieve this, the company aims to raise 770.9 billion yen (approximately $5,349,701,423) through the issuance and sale of 555 million MS warrants. On June 2, Metaplanet acquired an additional 1,088 BTC worth $112,961,600, bringing its total holdings to 8,888 BTC, valued at $922,796,600. In comparison, MicroStrategy holds 580,955 BTC, worth over $61 billion.

Bitcoin's price has shown volatility, recovering 3.34% after a 5% plunge, and is currently trading near $104,000. The recent price drop followed public disagreements between US President Trump and Elon Musk regarding a tax-and-spending bill, which Musk believes could increase the US national debt by $5 trillion. Trump has threatened to cancel all government contracts with Musk’s SpaceX.

Summary: A massive Bitcoin transfer from Kraken and Metaplanet's ambitious acquisition plan highlight ongoing institutional interest and significant market movements in the crypto sector. (Source: U.Today)

Crypto Users at Risk Due to Poor Security at Events, Warns Kraken

TradingView, citing a blog post by Kraken’s security chief Nick Percoco, reports a "troubling trend" of poor security practices among crypto conference attendees. Laptops and phones belonging to popular crypto protocols have been left unlocked and unattended at events, with wallet notifications visible in real time. Percoco emphasized that digital devices in the crypto space are essentially vaults for both personal and organizational assets, urging users to keep devices locked and in close proximity at all times.

Scammers at conferences may use tactics such as "juice jacking"—installing malware via malicious USB charging stations—or compromising public WiFi networks. Percoco also warned about the risk of QR code sticker swaps, which could lead to compromised wallets. He recommended using burner wallets with limited funds for conference activities to minimize risk. The report also notes a rise in in-person crypto thefts, with 29 incidents of offline crypto-related robberies recorded globally this year, according to a GitHub list by Jameson Lopp. Chainalysis CEO Jonathan Levin suggested that the perception of crypto as untraceable may be encouraging criminals to attempt kidnappings and thefts.

1. Unlocked devices left unattended at events
2. Risks include juice jacking, WiFi spoofing, and QR code scams
3. 29 in-person crypto thefts reported globally in 2025
4. Recommendation: Use burner wallets and maintain discretion

“If you’re in crypto, your digital device is not just a phone or a laptop. It’s a vault to you, your crypto assets and your broader employer’s operation.” – Nick Percoco, Kraken Security Chief

Summary: Poor security practices at crypto events are exposing users to significant risks, with a notable increase in in-person thefts and sophisticated scams. (Source: TradingView)

Sources:

• UK Weighs Lifting Retail Ban on Crypto Exchange-Traded Products
• Circle's blockbuster IPO paves way for other crypto public listings
• $767,696,757 Bitcoin Stun Major US Crypto Exchange Kraken
• Crypto users fail ‘basic situational awareness’ at events, says Kraken
• Singapore’s Crypto Clampdown: What New 2025 Rules Mean for Wallets, Exchanges & Traders
• UK FCA proposes lifting ban on crypto ETNs for retail investors