According to the source, British investment platform Hargreaves Lansdown warned clients to avoid Bitcoin and said crypto has "no intrinsic value" (source: Hargreaves Lansdown). The stance aligns with the UK Financial Conduct Authority’s classification of cryptoassets as high risk and its ban on selling crypto derivatives and ETNs to retail investors, which limits mainstream brokerage channels for BTC exposure in the UK (source: Financial Conduct Authority). As a result of FCA rules and broker guidance, retail BTC-GBP flows via regulated UK brokers remain constrained, keeping spot crypto exchanges as the primary access route for UK participants (source: Financial Conduct Authority).

According to @BitMEXResearch, there is skepticism regarding the timing of the UK Financial Conduct Authority's (FCA) potential authorization for UK retail investors to purchase Bitcoin Exchange-Traded Products (ETPs). The comment suggests that the FCA might allow such investments only after MicroStrategy (MSTR) trades at a discount, implying potential financial losses for investors. This indicates a concern over regulatory timing impacting trading strategies and investor outcomes.