Latest news with #ETN
Times
3 days ago
- Business
- Times
FCA considers lifting ban on bitcoin ETNs for retail investors
The Financial Conduct Authority is poised to ditch a six-year ban on some crypto-based products for retail investors even as it warned that consumers could still stand to 'lose all their money'. The City watchdog said on Friday that it was exploring the means to allow retail investors to tap into crypto exchange-traded notes, or ETNs. The product has been prohibited for individual investors since 2019. Presently, only professional investors are able to deal in the product, which enables people to trade on the price of a cryptocurrency without owning the underlying asset. It is similar to an exchange-traded fund, which investors use to gain exposure to equities without owning the stock itself. David Geale, the executive director for payments and digital finance at the Financial Conduct Authority, said the plans were emblematic of its 'commitment to supporting the growth and competitiveness of the UK's crypto industry'. He added: '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 FCA will take views from the crypto industry over the space of four weeks before lifting the prohibition of ETNs for retail traders. In April, the UK government said it would bring cryptocurrency into the parameters of regulation for the first time, aligning it with the United States and the European Union. The new regulatory framework was designed to 'crack down on bad actors while supporting legitimate innovation', the government said at the time of the announcement. Rachel Reeves, the chancellor, said then of the new regulations: 'Through our 'plan for change', we are making Britain the best place in the world to innovate and the safest place for consumers. Robust rules around crypto will boost investor confidence, support the growth of fintech and protect people across the UK.' The price of bitcoin, the world's foremost cryptocurrency, has been hugely volatile this year owing to President Trump's erratic policymaking. In the first few months of the year, bitcoin rose sharply as traders braced for the Trump administration to launch policies that emboldened the crypto industry. However, these policies have yet to materialise which, alongside Trump's on-again-off-again tariffs, pushed bitcoin down sharply, before a recent rally that pushed it up to a record high of $112,000 last month. On Friday afternoon, one bitcoin could fetch $103,975, representing a 2.38 per cent daily increase.
The Independent
4 days ago
- Business
- The Independent
City watchdog to lift ban on some crypto-linked investments for consumers
The City watchdog is set to lift a ban on some cryptocurrency-linked investments for individual consumers despite warning people could 'lose all their money' from the 'high-risk' asset. The Financial Conduct Authority (FCA) said it was proposing to allow retail investors to access crypto exchange-traded notes (ETNs). Like stocks and shares, crypto ETNs can be bought and sold and work by tracking the performance of cryptoassets such as Bitcoin and Ethereum. It means people are exposed to its changing value without needing to hold the asset themselves. Currently, just professional investors are allowed to buy and sell the investment product after the FCA granted access last year. At the time, the regulator said it still believed crypto ETNs to be 'ill-suited for retail consumers due to the harm they pose'. On Friday, David Geale, the FCA's executive director of payments and digital assets, said the proposals reflect its 'commitment to supporting the growth and competitiveness of the UK's crypto industry'. '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.' Access to crypto derivatives would still be banned for retail investors – but the FCA said it would continue to consider its approach to high-risk investments. In April, Chancellor Rachel Reeves said she wanted the UK to be a 'world leader in digital assets' and announced plans to make crypto firms subject to regulation in the same way as traditional finance companies. 'While the UK will always be committed to high international standards, I am determined that our regulatory framework supports economic growth,' she said at the time. But the FCA's chairman Nikhil Rathi recently warned that the number of young people turning to crypto as their first taste of investment was 'not great', adding that it was 'very high risk and you could potentially lose all your money'. The price of Bitcoin hit a fresh all-time high last month, topping about 111,000 dollars (£82,000) as the crypto market rallies amid support from Donald Trump's administration in the US.
Daily Mail
4 days ago
- Business
- Daily Mail
Bitcoin and crypto funds on their way for UK investors, as watchdog plans to lift its ban
Everyday investors could soon buy exposure to cryptocurrencies via low-cost exchange-traded products under changes being considered by Britain's financial regulator. The Financial Conduct Authority is proposing to lift an existing ban on offering crypto exchange-traded notes – or ETNs – to retail investors. Many investors will be familiar with exchange-traded funds – or ETFs – that own securities listed on an index which they track. While ETNs also try to track an index, they are debt instruments that promise to replicate the index's performance. The FCA banned the sale of crypto ETNs to UK retail investors alongside crypto derivatives in 2020, arguing they were not appropriate. At the time, the watchdog said crypto assets had 'no reliable basis for valuation', were vulnerable to market abuse, and showed 'extreme volatility'. It also argued retail investors had an 'inadequate understanding of crypto assets', and there was a lack of 'legitimate investment need' for the products. But the regulator, which overturned the ban on crypto ETN sales to professional investors last year, said on Friday it was considering opening up market access to retail buyers via approved investment exchanges. Noting similar products 'are already available in other countries', it launched a consultation on overturning the ban as part of efforts to establish a regulatory framework for crypto. Under FCA proposals, the ban on crypto derivatives would remain in place while promoters of crypto ETNs would face financial promotion rules and an obligation to inform buyers of potential risks. They will not be allowed to offer 'inappropriate incentives to invest'. David Geale, executive director of payments and digital assets at the FCA, said: 'This consultation demonstrates our commitment to supporting the growth and competitiveness of the UK's crypto industry. '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.'
CNBC
15-05-2025
- Business
- CNBC
We're trimming a data center stock that has rallied hard since we bought the dip
We are selling 25 shares of Eaton at roughly $328.51. Following the trade, Jim Cramer's Charitable Trust will own 350 shares of ETN, decreasing its weighting to 3.40% from 3.65%. We're locking in big gains in our position in Eaton following the electrical equipment maker's comeback over the past six weeks. As Eaton shares fell out of favor this year due to concerns about DeepSeek's impact on the data center market and general tariff-related uncertainty, we swooped in to capitalize. We picked up Eaton shares four separate times in 2025 — ranging from from $303 in January to $265 in early April . With shares trading at around $330 — up about 8% from our highest buy and 24% from our lowest buy — and now nearly flat on the year, we are lightening up on the position. We're also downgrading our rating to a hold-equivalent 2. Thursday's small sale follows the series of trims we've made this week out of discipline to the overbought market, according to the S & P Short Range Oscillator. We sold some Texas Roadhouse shares on Monday and Wells Fargo shares on Tuesday after their respective big runs. These sales more than offset our initiation of the energy equipment manufacturer GE Vernova , which we want to buy more of on weakness. From this sale, we will realize a gain of about 45% on Eaton stock purchased in November 2023. (Jim Cramer's Charitable Trust is long ETN, TXRH, WFC and GEV. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. A construction crew works on a CloudHQ data center on July 17, 2024 in Ashburn, Virginia.
Yahoo
02-05-2025
- Business
- Yahoo
Eaton: Q1 Earnings Snapshot
DUBLIN (AP) — DUBLIN (AP) — Eaton Corp. PLC (ETN) on Friday reported first-quarter net income of $964 million. On a per-share basis, the Dublin-based company said it had net income of $2.45. Earnings, adjusted for amortization costs and restructuring costs, were $2.72 per share. The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.70 per share. The power management company posted revenue of $6.38 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $6.27 billion. For the current quarter ending in June, Eaton expects its per-share earnings to range from $2.85 to $2.95. The company expects full-year earnings in the range of $11.80 to $12.20 per share. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on ETN at Sign in to access your portfolio
