You understand it correctly.

Since the first headline you posted was especifically about ETNs, my thought was that the other ETPs remained banned. That's what confused me. If it's a lift on all crypto-ETPs ban, then what I wonder is if BR will simply start serving UK clients within the current ETF, which means they won't be really doing anything other than saying now you can put your money here too, or a new UK-based iBit listing, which I'd assume it would be only to use £ denomination.

I guess the former makes more sense, it doesn't really require them to do anything. The only benefit to do the later is to avoid US$ exposure for £ denominated capitals, which I'm not sure they'll give a fuck about.