BNP Paribas launches Bitcoin and Ethereum ETNs

BNP Paribas, France’s largest bank, is stepping up its push into digital assets by launching a crypto exchange-traded note (ETN) investment service for retail customers.

On the 26th (local time), BNP Paribas’ Commercial Banking division announced that from the 30th it will roll out six ETN products in France for individual and corporate clients, private banking (PB) customers, and Hello bank! customers, with Bitcoin (BTC) and Ethereum (ETH) as the underlying assets. This formally adds crypto exposure products to portfolios that have traditionally centered on equities, bonds and ETFs.

The newly launched ETNs are structured to track performance indirectly via a securities account, without requiring investors to buy crypto directly or manage wallets. BNP Paribas selected six products from global asset managers with proven risk-management capabilities to enhance stability. A key feature is that it has put investor-protection safeguards in place through strict compliance with the Markets in Financial Instruments Directive II (MiFID II).

BNP Paribas said it decided to expand access to ETN products in response to strong investor interest in the crypto market, adding that clients will be able to invest in digital assets through their existing securities accounts.

The bank plans to use the France launch as a starting point and gradually expand its crypto ETN service to major hubs worldwide where the BNP Paribas Wealth Management network is present.