Valour, the UK subsidiary of digital asset firm DeFi Technologies, has received approval from the UK's Financial Conduct Authority (FCA) to offer cryptocurrency exchange-traded products (ETPs) to retail investors on the London Stock Exchange (LSE). The approval specifically covers two staking-linked products: 1Valour Bitcoin Physical Staking and 1Valour Ethereum Physical Staking, which began trading on Monday, January 26, 2026.
This marks a significant shift in the UK regulatory landscape. The FCA had effectively banned retail access to crypto ETPs in 2021 but reversed this stance in October, lifting the ban and paving the way for offerings from asset managers like Bitwise and now Valour. Until this approval, similar products on the LSE were largely restricted to professional investors. Valour had previously announced plans in September to list a Bitcoin staking ETP, but that offering was limited to institutional participation.
"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.
The move expands Valour's international strategy in regulated markets. In December, the firm launched a Solana-linked ETP in Brazil. According to LSE data, more than 50 issuers list over 2,300 ETPs on the exchange, with crypto-linked ETPs accounting for roughly $280 million in trading volume in December 2025.
The launch occurs against a challenging global backdrop for crypto ETPs. CoinShares reported that crypto ETPs saw more than $1.7 billion in outflows last week, reversing $2.2 billion of inflows the previous week. James Butterfill, CoinShares' Head of Research, attributed the shift to dwindling expectations for interest rate cuts, negative price momentum, and disappointment that digital assets have not participated in broader market narratives. Despite this, major asset managers like Grayscale Investments, Fidelity Investments, and BlackRock remain active in the space.
