ING Deutschland, one of Germany’s largest retail banks, has begun offering retail clients access to cryptocurrency-linked exchange-traded notes (ETNs) and products, allowing customers to gain exposure to bitcoin and other crypto directly through their existing securities accounts.
According to information published on ING’s website, the products are physically backed exchange-traded instruments issued by established asset managers including 21Shares, Bitwise, and VanEck.
The instruments track the performance of individual cryptocurrencies and trade on regulated exchanges via ING’s Direct Depot platform, which is typically used for stocks, ETFs, and mutual funds.
The bank said the bitcoin offering is intended to lower barriers to entry for crypto investing by integrating digital asset exposure into familiar banking infrastructure.
Clients do not need to set up third-party crypto exchanges, manage private keys, or operate self-custody wallets, as custody and execution are handled within the securities account framework.
“This creates another particularly low-threshold access to crypto investments via exchange-traded products,” said Martijn Rozemuller, CEO of VanEck Europe, in a translated press release. “Many investors want a solution that fits into existing depot structures and at the same time convinces them with transparent costs. That’s exactly what this partnership stands for.”
ING noted that the bitcoin and crypto ETNs receive the same tax treatment in Germany as directly held cryptocurrencies. Under current German tax rules, capital gains on crypto assets may be exempt if the position is held for more than one year, potentially making the products attractive to long-term investors.
Despite the expanded access, the bank emphasized that the products carry substantial risks. ING warned of “extreme” price volatility, the possibility of total loss in the event of issuer insolvency, liquidity risks, market manipulation, and ongoing regulatory uncertainty surrounding digital assets.
In educational materials published alongside the launch, ING took a notably cautious stance on the asset class itself.
“Cryptocurrencies are speculative products that have no intrinsic value,” the bank stated, adding that crypto prices are “strongly dependent on psychological effects,” which also influence exchange-traded crypto products.
German banks are embracing bitcoin
Germany’s major banking groups are moving to bring crypto trading into the regulated retail banking system. DZ Bank has secured MiCAR approval and will roll out its “meinKrypto” platform across cooperative banks, allowing customers to trade and custody Bitcoin and other digital assets directly within existing banking apps, while also joining a consortium developing a regulated euro stablecoin.
In parallel, the Sparkassen-Finanzgruppe plans to launch Bitcoin and crypto trading for private customers by summer 2026, with technical support from DekaBank, marking a reversal from its earlier skepticism toward digital assets.