ING Launches Bitcoin, Ethereum, Solana ETPs for Retail Clients in Germany

ING Deutschland has expanded its retail lineup with regulated crypto-linked investment products, giving everyday investors exposure to digital assets without holding crypto directly.

According to details published on ING’s website, the German retail bank now enables trading in crypto exchange-traded notes (ETNs) through its Direct Depot platform.

Key Points

• ING now offers crypto ETNs to retail investors via its Direct Depot platform.
• Initial offerings track major cryptocurrencies: Bitcoin, Ethereum, and Solana.
• ETNs are physically backed and issued by established providers like 21Shares, Bitwise, and VanEck.
• Investors gain crypto exposure without managing wallets or private keys, simplifying access.
• German tax treatment treats these ETNs similarly to direct crypto holdings, with potential long-term capital gains benefits.
• ING emphasizes regulatory compliance and risk transparency, highlighting volatility, potential losses, and issuer insolvency risks.

How the Crypto ETNs Work

Under the new offering, customers can invest in products that track the price movements of individual cryptocurrencies. The initial selection includes Bitcoin, Ethereum, and Solana, which remain among the most actively traded digital assets.

Instead of purchasing tokens directly, investors buy exchange-traded instruments listed on regulated markets. ING notes that the ETNs are physically backed and issued by established providers, including 21Shares, Bitwise, and VanEck. Transactions are executed through regulated exchanges and held in standard securities accounts, aligning crypto exposure with conventional investment processes.

Lowering Barriers for Crypto Investing

The structure is intended to address common hurdles that have limited retail participation in crypto markets. For context, ING emphasizes that customers do not need to set up external wallets or manage private keys, tasks often viewed as complex or risky. Instead, all investments are handled within the bank’s existing infrastructure.

Commenting on the initiative, VanEck Europe CEO Martijn Rozemuller said the approach reflects investor demand for crypto solutions that integrate seamlessly into established securities accounts. He also highlighted transparent costs and ease of access as key benefits of the partnership.

Tax Treatment and Regulatory Context

Beyond accessibility, ING also pointed to tax considerations that may influence investor interest. The bank noted that, in Germany, these ETNs are treated similarly to direct cryptocurrency holdings for tax purposes.

This includes the potential for capital gains tax exemptions when positions are held for more than one year. However, the bank cautioned that tax outcomes depend on individual circumstances and prevailing regulations.

Clear Warnings on Investment Risks

Alongside the launch, ING underscored the importance of understanding the risks associated with crypto-linked products. The bank warned that cryptocurrencies are highly volatile and can experience rapid and substantial price swings, potentially resulting in significant losses.

ING also flagged the risk of total loss in the event of issuer insolvency. Additional concerns include limited liquidity, potential market manipulation, and ongoing regulatory uncertainty, all of which were outlined in the bank’s disclosures.

In its educational materials, ING described cryptocurrencies as speculative assets without intrinsic value. The bank added that price movements are strongly driven by psychological factors, which also influence exchange-traded crypto products.

ING’s Broader Digital Asset Strategy

The introduction of crypto-linked ETNs aligns with ING’s broader engagement with digital assets. The banking group, whose history dates back to the 18th century, has steadily expanded its involvement in blockchain-related initiatives across Europe.

In September last year, ING joined eight other European banks in a consortium working on a euro-denominated stablecoin to establish a trusted European payment standard.

Taken together, these developments illustrate ING’s cautious and regulated approach to digital assets, combining established banking structures with controlled exposure to emerging technologies.