Germany's ING Bank Opens Direct Investment Window for Retail Clients on Bitcoin, Ethereum, and Solana ETNs
Germany's ING bank has launched a service that allows investors to invest in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL)-linked exchange-traded notes (ETNs) through existing securities accounts. This service is expected to significantly increase accessibility for retail investors, enabling indirect cryptocurrency investment without the need for a cryptocurrency wallet or private key.
ING recently announced that it has begun offering cryptocurrency-backed ETN products to retail clients through its securities platform, "Direct Depot." These products are physically collateralized ETNs offered by global issuers such as 21Shares, Bitwise, and VanEck, and are traded on regulated exchanges in Germany.
'Storage-linked' products integrated into existing financial infrastructure
The most significant feature is that customers don't need to manage separate cryptocurrency wallets or private keys, and the funds are integrated into the same securities account as their existing stocks and bonds. ING emphasized, "It's designed to give investors exposure to cryptocurrency within their familiar financial system."
“This structure has the advantage of simplifying storage and reporting, as well as providing a transparent fee structure,” said Martin Roger Müller, CEO of VanEck Europe. “There is considerable retail demand for cryptocurrency investments without the hassle of managing unfamiliar technologies.”
It could also be attractive from a tax perspective. Under current German tax regulations, capital gains on cryptocurrency trading are exempt from tax if certain conditions (such as holding for more than one year) are met. ING stated that this regulation also applies to its ETN product, allowing investors to enjoy the same tax benefits as direct cryptocurrency investments.
High volatility and issuer risk are emphasized as "precautions before investing."
However, ING clearly stated that these products represent high-risk investments. In its product descriptions, the bank highlighted risks such as extreme price volatility, illiquidity, the potential for market manipulation, and the potential loss of the entire principal in the event of the issuer's bankruptcy. Furthermore, market uncertainty due to government regulations was cited as a potential risk factor.
ING also states on its customer education page that cryptocurrencies themselves are "speculative assets driven by market sentiment," and advises against investing without a thorough understanding.
European banks are accelerating their entry into the cryptocurrency market.
This service marks another step forward for ING in the digital asset sector. Last September, ING joined a consortium of European banks developing a euro-based stablecoin, marking the beginning of a full-scale expansion of its blockchain-based financial system. The project is currently in its early stages, awaiting regulatory approval and internal board approval.
As the European Union's MiCA (Miscellaneous Assets Control) regulation of the cryptocurrency market begins to take effect, institutional banks are increasingly interested in euro-backed digital assets. Société Générale has already launched a euro stablecoin through its subsidiary SG Forge, and regulatory-linked products like Circle's EURC are also on the rise.
ING's latest move underscores the rapidly growing demand within Europe for "regulated indirect methods" for investing in cryptocurrencies without directly holding them. Securing a secure investment channel, particularly for retail customers, is becoming a key challenge in connecting traditional banking with the digital asset market.
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