ING Deutschland, considered one of Germany’s largest retail banks, has begun providing retail purchasers entry to cryptocurrency-linked exchange-traded notes (ETNs) and merchandise, permitting prospects to gain exposure to bitcoin and different crypto immediately by way of their current securities accounts.
In keeping with data 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 monitor the efficiency of particular person cryptocurrencies and commerce on regulated exchanges by way of ING’s Direct Depot platform, which is often used for shares, ETFs, and mutual funds.
The financial institution stated 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 have to 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 by way of exchange-traded merchandise,” said Martijn Rozemuller, CEO of VanEck Europe, in a translated press launch. “Many traders desire a resolution that matches into current 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 immediately held cryptocurrencies. Underneath present German tax guidelines, capital beneficial properties on crypto belongings could also be exempt if the place is held for a couple of 12 months, probably making the merchandise engaging to long-term traders.
Regardless of the expanded entry, the financial institution emphasised that the merchandise carry substantial dangers. ING warned of “excessive” value volatility, the potential of whole 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 prospects to commerce and custody Bitcoin and different digital belongings immediately inside current 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 prospects by summer season 2026, with technical help from DekaBank, marking a reversal from its earlier skepticism towards digital belongings.
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