German Bank ING Deutschland Opens Retail Access to Crypto-Linked ETNs
ING Deutschland has opened retail access to cryptocurrency-linked exchange-traded notes (ETNs), allowing customers to gain exposure to Bitcoin, Ethereum and Solana through its securities platform.
Key Takeaways:
- ING Deutschland now offers retail investors bank-integrated ETNs for Bitcoin, Ethereum and Solana.
- The products remove the need for wallets or private keys by fitting into existing brokerage accounts.
- ING warned the ETNs carry high risks despite tax alignment and regulated trading venues.
The products are physically backed ETNs issued by established providers including 21Shares, Bitwise and VanEck.
The notes track the performance of individual cryptocurrencies and are traded on regulated exchanges via ING’s Direct Depot service, integrating crypto exposure into a traditional brokerage setup.
ING Aims to Lower Barriers With Bank-Integrated Crypto ETNs
ING said the offering is designed to reduce friction for retail investors by relying on familiar banking infrastructure.
Customers do not need to manage third-party wallets, private keys or separate crypto accounts, as the ETNs are held alongside other securities in their existing portfolios.
“This creates another particularly low-threshold access to crypto investments via exchange-traded products,” said Martijn Rozemuller, chief executive of VanEck Europe, in a translated statement.
He added that many investors prefer crypto exposure that fits within existing custody and reporting structures while offering transparent costs.
The bank also noted that the ETNs fall under Germany’s tax framework for crypto investments.
Under current rules, capital gains may be exempt from tax if positions are held for more than one year, aligning the products with the treatment of direct cryptocurrency holdings.
At the same time, ING stressed that the instruments carry substantial risks. In disclosures accompanying the launch, the bank cited extreme price volatility, potential total loss in the event of issuer insolvency, liquidity constraints, market manipulation and regulatory uncertainty.
On an educational page, ING described cryptocurrencies as speculative assets whose prices are heavily influenced by market psychology.
The move marks another step in ING’s gradual expansion into digital assets. The Dutch banking group, whose history dates back to the 18th century, has been exploring blockchain-based finance across Europe.
In September, ING joined a consortium of European banks working on a euro-denominated stablecoin, aiming to create a trusted payment standard for the region.
By bringing crypto-linked ETNs to retail customers, ING joins a growing number of European banks offering regulated pathways into digital assets without direct token ownership.
ING Joins Bank Consortium Exploring Euro-Denominated Stablecoin Under MiCA
As reported, ING is preparing to launch a euro-denominated stablecoin as part of a consortium with other banks.
The project is still at an early stage, with several participating institutions awaiting board approvals and regulatory clearance to establish a joint issuing entity. ING declined to comment on the plans.
The initiative comes as the European Union’s Markets in Crypto-Assets Regulation (MiCA) reshapes the region’s stablecoin landscape by setting licensing requirements, reserve rules and oversight standards.
MiCA has increased interest in euro-backed digital currencies by providing a clearer framework for banks to issue compliant products.
ING would not be the first European bank to enter the space. Société Générale, via its SG FORGE unit, has already launched a euro-backed stablecoin, while analysts note MiCA has strengthened regulated offerings such as Circle’s EURC.
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