UK FCA proposes 10% cap for funds investing in crypto ETNs

The UK's Financial Conduct Authority (FCA) has proposed allowing authorized investment funds to invest up to 10% of their assets in crypto exchange-traded notes (ETNs), The Block reported. The proposal covers public funds, known as UCITS, and most non-UCITS retail investment funds. If the regulation is adopted, these funds would be permitted to allocate up to 10% of their assets to crypto ETNs.