TradFi giant and FTSE-listed IG launches retail crypto trading in UK with Uphold tomorrow
IG Group will allow retail investors in the United Kingdom to trade 38 cryptocurrencies on its multi-asset platform from Tuesday, June 3, becoming the first London-listed broker to offer spot tokens.
The firm’s integration relies on a partnership with digital-asset exchange Uphold, which will provide custody and execution services. The Financial Services Compensation Scheme does not cover assets held with Uphold, and trading will be limited to fully paid positions with no leverage.
“Customer demand is reaching a tipping point,” IG U.K. managing director Michael Healy told The Times, adding that traditional account holders want direct exposure to bitcoin, ether, and a growing list of altcoins, including Solana, Dogecoin, and the meme token DogWifhat.
The launch comes five weeks after the Treasury published a draft rulebook aimed at bringing crypto under existing market abuse, consumer protection, and capital regimes. Chancellor Rachel Reeves said the framework would “boost investor confidence,” according to an April 29 press release on gov. UK.
Regulatory clarity is colliding with a sharp rise in public participation. A Financial Conduct Authority survey released in August 2024 found that 12 percent of U.K. adults, roughly seven million people, already own digital assets, up from 4.4 percent in 2021. Awareness stands at 93 percent, the watchdog noted in its 2024 research briefing.
Brokerages are moving quickly to meet that demand. Revolut and eToro have long offered retail crypto channels, while Coinbase operates outside the traditional brokerage model. By securing a seat inside a spread-bet and equities platform, IG aims to lock in clients who might otherwise move funds to challenger apps.
The decision to outsource custody reflects a wider trend among established financial firms that want to add digital assets without building wallet infrastructure in-house. As industry consultant GoodMoneyGuide observed when first flagging the tie-up, such arrangements let brokers control market risk and time-to-market while the Financial Conduct Authority finalises technical safeguarding rules here.
Crypto markets have retained momentum ahead of the product rollout. Total capitalisation stood near $3.3 trillion on June 2, with Bitcoin stable around $105,000. Deeper liquidity and tighter regulation are encouraging mainstream brokers to treat tokens as another asset class rather than an exotic side bet.
IG’s move still carries questions. Clients must absorb price swings without leverage but will shoulder the full tax burden on gains, and the broker must clearly flag the absence of deposit protection. The Financial Conduct Authority is also refining capital and safeguarding thresholds for firms holding client crypto, meaning future adjustments could be required.
Even so, the step signals that digital assets have crossed an institutional line in the UK. With policy guardrails emerging and millions of Britons already holding tokens, 2025 is shaping up as the year crypto settles inside the City’s regulated perimeter.
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