ING opens retail access to Bitcoin, Ethereum, Solana ETPs in Germany

ING Deutschland, a major retail bank in Germany, has opened up retail access to cryptocurrency-linked exchange-traded notes (ETNs) and products, enabling customers to gain exposure to bitcoin, Ethereum, and Solana.

According to its website, the products are physically backed instruments issued by established providers such as 21Shares, Bitwise, and VanEck. They track the performance of individual cryptocurrencies and are traded on regulated exchanges through ING’s Direct Depot platform. 

ING said the products are designed to lower the entry barrier for crypto investing by using familiar banking infrastructure, removing the need for customers to manage third-party wallet systems or private keys.

“This creates another particularly low-threshold access to crypto investments via exchange-traded products,” Martijn Rozemuller, CEO of VanEck Europe, said in a translated press release. “Many investors want a solution that fits into existing depot structures and at the same time convinces with transparent costs. That’s exactly what this partnership stands for — it brings crypto exposure to where investors are already investing: in their securities depot.”

ING noted that investments in the ETNs are subject to tax treatment similar to direct crypto holdings in Germany, including potential capital gains exemptions for positions held longer than one year.

The bank cautioned, however, that the products carry significant risks, citing “extreme” price volatility, the possibility of total loss in the event of issuer insolvency, liquidity challenges, market manipulation, and regulatory uncertainty.

On a page explaining the nature of cryptocurrencies, ING noted: “Cryptocurrencies are speculative products that have no intrinsic value … The value or price developments of cryptocurrencies are strongly dependent on psychological effects – and these also affect the prices of exchange-traded crypto assets.”

ING, a major Dutch banking group with roots dating back to the 18th century, has been venturing into digital assets in recent years. Last September, it joined eight other European banks to form a consortium to develop a euro-based stablecoin, aiming to establish it as a “trusted European payment standard.”

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