ING Deutschland, one in all Germany’s largest retail banks, has begun providing retail shoppers entry to cryptocurrency-linked exchange-traded notes (ETNs) and merchandise, permitting clients to achieve publicity to bitcoin and different crypto instantly by means of their present securities accounts.
Based on info printed on ING’s web site, the merchandise are bodily backed exchange-traded devices issued by established asset managers together with 21Shares, Bitwise, and VanEck.
The devices observe the efficiency of particular person cryptocurrencies and commerce on regulated exchanges through ING’s Direct Depot platform, which is often used for shares, ETFs, and mutual funds.
The financial institution mentioned the bitcoin providing is meant to decrease boundaries to entry for crypto investing by integrating digital asset publicity into acquainted banking infrastructure.
Purchasers don’t must arrange third-party crypto exchanges, handle non-public keys, or function self-custody wallets, as custody and execution are dealt with inside the securities account framework.
“This creates one other significantly low-threshold entry to crypto investments through exchange-traded merchandise,” mentioned Martijn Rozemuller, CEO of VanEck Europe, in a translated press launch. “Many buyers need a answer that matches into present depot buildings and on the identical time convinces them with clear prices. That’s precisely what this partnership stands for.”
ING famous that the bitcoin and crypto ETNs obtain the identical tax therapy in Germany as instantly held cryptocurrencies. Underneath present German tax guidelines, capital positive factors on crypto belongings could also be exempt if the place is held for multiple 12 months, doubtlessly making the merchandise enticing to long-term buyers.
Regardless of the expanded entry, the financial institution emphasised that the merchandise carry substantial dangers. ING warned of “excessive” worth volatility, the opportunity of complete loss within the occasion of issuer insolvency, liquidity dangers, market manipulation, and ongoing regulatory uncertainty surrounding digital belongings.
In academic supplies printed alongside the launch, ING took a notably cautious stance on the asset class itself.
“Cryptocurrencies are speculative merchandise that haven’t any intrinsic worth,” the financial institution said, including that crypto costs are “strongly depending on psychological results,” which additionally affect exchange-traded crypto merchandise.
German banks are embracing bitcoin
Germany’s main banking teams are transferring to carry crypto buying and selling into the regulated retail banking system. DZ Financial institution has secured MiCAR approval and can roll out its “meinKrypto” platform throughout cooperative banks, permitting clients to commerce and custody Bitcoin and different digital belongings instantly inside present banking apps, whereas additionally becoming a member of a consortium creating a regulated euro stablecoin.
In parallel, the Sparkassen-Finanzgruppe plans to launch Bitcoin and crypto buying and selling for personal clients by summer season 2026, with technical help from DekaBank, marking a reversal from its earlier skepticism towards digital belongings.