It's a welcoming news, I personally thought that UK watchdog or at least European financial watchdogs are really anti-crypto. Or at least they have a hard stance because of it's volatility, and centralization and the old excuse of it being used by criminals.
But since it become a financial instrument now, maybe there were pressures from the influential or lobbyist to have ETN listing in UK as well. And just like in the US wherein in passed, I think this could also be the case in UK, opening up floodgates of investors and money flowing in in the crypto industry.