Fidelity Bitcoin ETP Opens Doors to UK Retail Investors
Fidelity International has secured regulatory approval from the Financial Conduct Authority to make its Physical Bitcoin ETP available to retail investors in the UK. The announcement marks a significant milestone for British cryptocurrency enthusiasts who previously lacked access to regulated digital asset products.
The approval took effect on November 3, 2025, making the Fidelity Physical Bitcoin ETP the first crypto asset available to Fidelity’s advised platform clients. This development arrives after years of regulatory restrictions that forced retail investors toward unregulated platforms or indirect exposure methods.
How Fidelity Bitcoin ETP Transforms UK Crypto Access
The Fidelity Physical Bitcoin ETP provides retail investors with institutional-grade exposure to Bitcoin through a familiar investment structure. The product tracks Bitcoin’s price movements and was originally launched in February 2022. It trades on major European exchanges, including Deutsche Börse Xetra, SIX Swiss Exchange, and London Stock Exchange.
Fidelity recently reduced the Ongoing Charges Figure to 0.25%, making the product competitively priced among European crypto ETPs. Fidelity Digital Assets serves as the custodian, adding an extra layer of security for investors concerned about asset protection.
Georg Bauer, Head of Investment and Product for Global Platform Solutions at Fidelity International, emphasized the importance of this regulatory shift. He noted that retail investors previously faced limitations, accessing crypto only through less secure channels or proxy stocks.
UK Regulatory Changes Enable Bitcoin ETP Growth
The FCA announced in August 2025 that it would lift the retail ban on crypto exchange-traded notes, which came into force on October 8, 2025. This policy reversal reflects the maturation of cryptocurrency markets and increased regulatory confidence in structured products.
Since March 2024, the FCA has allowed recognized investment exchanges to create UK-listed market segments for crypto asset-backed exchange-traded notes, though these remained restricted to professional investors. The October 2025 policy shift extended these benefits to everyday investors.
Multiple asset managers have rushed to capitalize on this regulatory opening. BlackRock, 21Shares, Bitwise, and WisdomTree also listed Bitcoin and Ethereum ETPs on the London Stock Exchange for retail investors, creating a competitive marketplace for crypto investment products.
What Bitcoin ETP Approval Means for Retail Investors
The availability of Fidelity’s Bitcoin ETP through regulated channels addresses several concerns that previously deterred conservative investors from cryptocurrency exposure. Retail investors can purchase Bitcoin exposure through standard brokerage accounts, potentially including tax-advantaged wrappers like ISAs and SIPPs.
Fidelity International continues exploring opportunities to extend crypto asset access to customers of its consumer platform, Fidelity Personal Investing, in the future. Various providers will add additional crypto products in the coming weeks, pending due diligence and client demand.
The institutional-grade structure provides transparency and regulatory oversight that unregulated crypto exchanges cannot match. Investors gain Bitcoin exposure without managing private keys, dealing with crypto wallets, or navigating unfamiliar trading platforms.
However, Fidelity encourages thorough research before investing in digital assets. Cryptocurrencies remain highly volatile, and the products carry risks that traditional investments do not. The FCA continues to prohibit retail crypto derivatives, maintaining consumer protective measures.
Positioning the UK as a Digital Asset Hub
Regulators’ approval of Fidelity’s Bitcoin ETP supports the UK’s broader ambition to become a leading jurisdiction for digital assets. The government has supported innovation while prioritizing consumer protection and financial stability.
The FCA grants recognition orders to investment exchanges to ensure they meet regulatory standards under the Financial Services and Markets Act 2000. This framework provides investor protection while enabling product innovation.
The phased approach to crypto regulation demonstrates the FCA’s careful balancing act. Comprehensive regulations covering stablecoins, trading platforms, lending, staking, and custody remain under consultation, with full implementation expected in 2026.
Conclusion
Fidelity International’s FCA-approved Bitcoin ETP represents a turning point for UK retail cryptocurrency investment. The combination of institutional-grade custody, competitive fees, and regulatory oversight creates an accessible pathway for everyday investors seeking Bitcoin exposure. As the UK crypto investor base approaches 4 million, products like Fidelity’s Physical Bitcoin ETP will likely play an important role in mainstream digital asset adoption.
