ING Deutschland, one in all Germany’s largest retail banks, has begun providing retail purchasers entry to cryptocurrency-linked exchange-traded notes (ETNs) and merchandise, permitting clients to realize publicity to bitcoin and different crypto immediately via their present 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 observe the efficiency of particular person cryptocurrencies and commerce on regulated exchanges through 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 limitations to entry for crypto investing by integrating digital asset publicity into acquainted banking infrastructure.
Shoppers don’t must 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 through exchange-traded merchandise,” stated Martijn Rozemuller, CEO of VanEck Europe, in a translated press launch. “Many traders desire a resolution that matches into present depot constructions 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 features on crypto property could also be exempt if the place is held for a couple of yr, doubtlessly making the merchandise enticing to long-term traders.
Regardless of the expanded entry, the financial institution emphasised that the merchandise carry substantial dangers. ING warned of “excessive” worth volatility, the potential for whole loss within the occasion of issuer insolvency, liquidity dangers, market manipulation, and ongoing regulatory uncertainty surrounding digital property.
In instructional supplies printed alongside the launch, ING took a notably cautious stance on the asset class itself.
“Cryptocurrencies are speculative merchandise that don’t have any intrinsic worth,” the financial institution acknowledged, 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 convey 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 clients to commerce and custody Bitcoin and different digital property immediately 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 clients by summer time 2026, with technical help from DekaBank, marking a reversal from its earlier skepticism towards digital property.
