ING Germany to Open Retail Bitcoin, Ethereum, and Solana ETP Investment Channel

BlockBeats News, February 3rd, the major retail bank ING Deutschland has opened up to retail clients a channel for investing in cryptocurrency-related Exchange Traded Notes (ETN/ETP) through its Direct Depot platform, allowing investment in cryptocurrencies such as Bitcoin, Ethereum, and Solana.

ING stated that the mentioned products are physically backed instruments issued by institutions such as 21Shares, Bitwise, and VanEck, traded on regulated exchanges, allowing clients to gain exposure to cryptocurrencies without needing to manage wallets or private keys themselves.

ING also cautioned that such products still face factors such as price volatility, issuer risk, liquidity, and regulatory uncertainty. The bank pointed out that in Germany, the tax treatment of these ETNs is similar to directly holding cryptocurrencies, and holding for over a year may qualify for a capital gains tax exemption. (The Block)