PANews reported on February 3 that ING Deutschland, a major German retail bank, announced that it now offers retail clients exchange-traded notes (ETNs) and products linked to cryptocurrencies, supporting investments in Bitcoin, Ethereum, and Solana.
According to the official website, these products are physically backed tools issued by well-known providers such as 21Shares, Bitwise, and VanEck, which can track the performance of a single cryptocurrency and are traded on regulated exchanges through ING's Direct Depot platform.
Furthermore, ING points out that investments in these ETNs enjoy similar tax treatment in Germany as direct cryptocurrency holdings, including potential capital gains tax exemptions for holdings exceeding one year. However, ING also warns of significant risks associated with these products, including high price volatility, potential financial losses due to issuer bankruptcy, liquidity issues, market manipulation, and regulatory uncertainty.
It is worth noting that ING, a major Dutch banking group with a history dating back to the 18th century, has been actively involved in the digital asset field in recent years. Last September, ING joined eight other European banks in forming a consortium dedicated to developing a euro-based stablecoin to establish it as a "trusted European payment standard."
