ING opens retail crypto ETP access in Germany

ING Deutschland has begun offering retail clients exchange-traded products providing exposure to Bitcoin, Ethereum and Solana through its Direct Depot platform.

The bank said the physically backed ETNs are issued by providers including 21Shares, Bitwise and VanEck, allowing customers to invest in cryptocurrencies via regulated exchanges without managing wallets or private keys.

“This creates another particularly low-threshold access to crypto investments via exchange-traded products,”

Said Martijn Rozemuller, chief executive of VanEck Europe.

ING said the products are taxed similarly to direct crypto holdings in Germany, including potential capital gains exemptions for positions held longer than one year.

The bank warned that crypto ETPs carry significant risks, citing extreme price volatility, possible total loss in the event of issuer insolvency, liquidity constraints and regulatory uncertainty.

“Cryptocurrencies are speculative products that have no intrinsic value,”

ING said, adding that prices are heavily influenced by psychological factors.

The move builds on ING’s broader push into digital assets, following its participation last year in a consortium of European banks working to develop a euro-denominated stablecoin.

At the time of reporting, Bitcoin price was $78,386.58.