ING Deutschland has opened retail access to cryptocurrency-linked exchange-traded notes (ETNs), allowing clients to gain exposure to Bitcoin, Ethereum and Solana through its securities platform.
Key points to remember:
- ING Deutschland now offers bank-integrated ETNs for Bitcoin, Ethereum and Solana to retail investors.
- The products remove the need for wallets or private keys by integrating with existing brokerage accounts.
- ING warned that ETNs carry high risks despite tax alignment and regulated trading platforms.
The products are physically-backed ETNs issued by established providers including 21Shares, Bitwise and VanEck.
The notes track the performance of each cryptocurrency and are traded on regulated exchanges through ING’s Direct Depot service, integrating cryptocurrency 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 building on familiar banking infrastructure.
Clients do not need to manage separate third-party wallets, private keys, or crypto accounts because ETNs are held alongside other securities in their existing wallets.
“This creates another particularly low-threshold access to crypto investments via exchange-traded products,” Martijn Rozemuller, managing director of VanEck Europe, said in a translated statement.
He added that many investors prefer crypto exposure that fits into existing custody and reporting structures while providing transparent costs.
The bank also noted that ETNs fall under the German tax framework for crypto investments.
Under current rules, capital gains can be tax-exempt if positions are held for more than a year, bringing the products in line with the treatment of direct holdings of cryptocurrencies.
At the same time, ING emphasized that these instruments carry significant 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.
This move marks a new step in ING’s gradual expansion into digital assets. The Dutch banking group, with a history dating back to the 18th century, is 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 reliable payments standard for the region.
By offering cryptocurrency-linked ETNs to retail clients, ING joins a growing number of European banks offering regulated routes to digital assets without direct token ownership.
ING joins banking 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 in its early stages, with several participating institutions awaiting board approval and regulatory clearance to create a joint issuing entity. ING declined to comment on these plans.
The initiative comes as the European Union’s Markets in Crypto Assets (MiCA) Regulation 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 this sector. Société Générale, through its SG FORGE unit, has already launched a euro-backed stablecoin, while analysts note that MiCA has strengthened regulated offerings such as Circle’s EURC.
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