What To Know:
- ING Germany now offers crypto-linked ETNs tied to bitcoin, Ethereum, and Solana through its Direct Depot platform, allowing customers to invest without managing wallets or private keys.
- The ETNs are issued by firms such as 21Shares, Bitwise, and VanEck, trade on regulated exchanges, and follow tax rules similar to direct crypto holdings in Germany.
- While ING is lowering entry barriers and integrating crypto into mainstream portfolios, it continues to flag high volatility, issuer risk, and regulatory uncertainty for retail investors.
ING Germany has expanded its investment offering and now includes cryptocurrency-linked exchange-traded notes. The decision aims to give retail customers a new route to gain exposure to cryptos through traditional banking channels. With this offering, clients can invest in products tied to bitcoin, Ethereum, and Solana directly from the bank’s Direct Depot platform, without handling crypto wallets or private keys.
According to information published on ING’s website, the instruments are physically backed ETNs issued by established asset managers including 21Shares, Bitwise, and VanEck. Each product tracks the performance of a single cryptocurrency and is traded on regulated exchanges. For customers, the process mirrors the purchase of conventional exchange-traded securities, using infrastructure they already know.
ING Germany to Open Retail Bitcoin, Ethereum, Solana ETP
The move aims to reduce the barriers to entry for investors who are curious about crypto markets but reluctant to engage with specialized platforms or the need to custody themselves, the bank said. ING has added exchange-listed products to a securities account that has already held cash, but it is now looking to put digital assets firmly into the fold of more mainstream portfolios and not separate from the broader ecosystem.
Martijn Rozemuller, the chief executive of VanEck Europe, said the partnership is an attempt to respond to investors’ demand for familiar structures. He added in a translated statement that many investors would prefer solutions that integrate seamlessly into existing depot systems and offer transparent pricing. According to Rozemuller, the appeal lies in bringing crypto exposure into the same environment where investors already manage equities, bonds, and funds.
Tax treatment is another factor shaping the products’ appeal in Germany. ING noted that investments in the ETNs are subject to rules similar to those applied to direct cryptocurrency holdings. Under current regulations, capital gains may be exempt from tax if held for more than one year. With it, today’s Germany has become an attractive place for long-term crypto investors.
At the same time, the bank has made a point of highlighting the risks involved. The bank also cited issuer risk and market manipulation concerns as well as continued regulatory uncertainty in relation to digital assets. In training materials posted alongside the product launch, ING defined cryptocurrencies as speculative instruments whose prices are subject to market sentiment.
Even as this access broadens, institutions increasingly distance themselves from claims of inherent value and treat crypto exposure as a high-risk investment suitable only for informed clients.
Last year, ING joined a group of European banks working on a euro-denominated stablecoin, with the stated goal of creating a trusted payment instrument anchored in European regulation.
The structure of exchange-traded notes offers several practical advantages that help explain their growing popularity among banks. Because the products are traded on regulated exchanges, investors avoid unregulated trading venues. Liquidity is supported by Europe’s largest exchange-based ETF and ETN trading platforms, which operate under established supervisory frameworks.
Central clearing also plays a role in reducing counterparty risk. Trades are settled through clearing houses, limiting exposure to bilateral failures. For retail clients, the absence of wallet management removes a layer of operational complexity that has discouraged participation in the past.
Even so, the launch is seemingly a careful balancing act. ING is opening the pathway to crypto-linked investments while maintaining a firm emphasis on risk disclosure and investor education.
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