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 realize publicity to bitcoin and different crypto straight by way of their present securities accounts.
Based on 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 usually 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.
Shoppers don’t have to arrange third-party crypto exchanges, handle personal 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,” stated Martijn Rozemuller, CEO of VanEck Europe, in a translated press launch. “Many buyers desire a answer that matches into present depot buildings and on the similar 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 straight held cryptocurrencies. Underneath present German tax guidelines, capital features on crypto belongings could also be exempt if the place is held for multiple 12 months, probably 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” value volatility, the potential 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 shifting to deliver 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 straight inside present banking apps, whereas additionally becoming a member of a consortium growing a regulated euro stablecoin.
In parallel, the Sparkassen-Finanzgruppe plans to launch Bitcoin and crypto buying and selling for personal prospects by summer time 2026, with technical assist from DekaBank, marking a reversal from its earlier skepticism towards digital belongings.
