IG Group has become the first UK-listed company to offer direct retail trading in cryptocurrencies, including Bitcoin and Ethereum. This move marks a significant step in legitimizing digital asset investment in the UK. The new service, launched in June 2025, allows retail investors to trade 38 digital tokens via a partnership with Uphold, a digital assets platform. However, crypto custody through Uphold won’t be covered by the Financial Services Compensation Scheme.
Michael Healy, IG’s UK head, called it a milestone in the UK’s evolving crypto landscape, aligning with the government’s plans to implement comprehensive digital asset regulation. Ownership of digital assets is also becoming more prevalent. Research by the Financial Conduct Authority (FCA) estimated that 12% of UK adults owned a cryptocurrency in 2024, up from 4.4% in 2021.
The cryptocurrency market has grown rapidly since Bitcoin’s inception in 2008. There are now thousands of cryptocurrencies with a combined value of almost $3.3 trillion, ranging from coins that started as a joke, such as Dogecoin, to tokens promoted by public figures. Traditional forms of money are controlled by central banks and governments, but cryptocurrencies are decentralized, exist only online, and are largely unregulated.
IG, a FTSE 250 company, expands its offerings through this move beyond contracts for difference, spread bets, and traditional stockbroking. Other British companies also offer crypto services but are not listed on the London Stock Exchange. Healy emphasized that being a listed company adds transparency and accountability to their crypto offerings.
Advocates of crypto believe in its potential to democratize finance, improve transaction efficiency, and foster innovation. Yet regulators have typically been wary due to concerns about volatility, fraud, money laundering, and consumer protection. In Britain, the FCA has warned that cryptocurrencies are high-risk and investors should be prepared to lose all their money. MPs on the Commons Treasury Committee have described some crypto assets as “toxic,” with ongoing concerns about their use for illicit activities.
The collapse in 2022 of major crypto platforms shook investor confidence and triggered heightened regulatory scrutiny globally. Despite setbacks, institutional investors continue to show interest in digital assets. The regulatory landscape is evolving rapidly, with governments seeking to balance innovation with risk management.
In the US, regulatory actions intensified under President Biden, while former President Trump has voiced support for crypto-friendly policies. The UK government is working on creating a clear regulatory framework for digital assets, with Chancellor Rachel Reeves advocating for robust rules to protect consumers while supporting innovation.
IG Group’s initiative represents a significant development in the UK’s cryptocurrency landscape. By offering direct retail trading in digital assets, IG is expanding its services and contributing to the mainstream acceptance and regulation of cryptocurrencies. As the regulatory environment continues to evolve, IG’s move may serve as a model for other financial institutions looking to enter the cryptocurrency market.
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