BNP Paribas Introduces Six Crypto ETNs for Retail Investors in France
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In a significant move to broaden its financial offerings, BNP Paribas has launched six new exchange-traded notes (ETNs) linked to Bitcoin and Ether for retail investors in France. This introduction marks a critical step for the French multinational banking institution as it embraces the growing interest in cryptocurrencies among individual clients.
The newly created ETNs are set to be available starting Monday through regular securities accounts. The products, which mirror the value of Bitcoin (BTC) and Ether (ETH), will be accessible to a diverse range of retail investors, including entrepreneurs, private banking clients, and users of BNP Paribas’ digital platform, Hello bank!. There are plans for potential expansion to wealth management clients outside of France as well.
Investors opting for ETNs can benefit from the ability to track the performance of these digital currencies without the complexities of direct ownership. While there are inherent credit risks associated with ETNs—where potential losses could arise if the bank fails—these products also offer tax advantages and eliminate tracking errors, making them an appealing alternative to direct crypto investments.
This initiative aligns with BNP Paribas’ broader strategy to enhance its digital asset services. Notably, in 2024, the bank played a pivotal role in arranging Slovenia’s first digital sovereign bond, which represented the European Union’s inaugural issuance of a blockchain-based government bond.
Moreover, Binance has been actively engaging with various blockchain initiatives. In September of the previous year, the bank, alongside HSBC, became a member of the Canton Foundation, which oversees the Canton Network focused on institutional finance and the tokenization of real-world assets. Additionally, BNP Paribas participated in a substantial funding round for Digital Asset, raising $135 million, and has recently launched a tokenized share class of a money market fund on the Ethereum blockchain.
The trend of adopting crypto-linked ETNs is gaining traction across Europe, with institutions like ING Germany introducing new products from Bitwise and VanEck. Following recent regulatory changes, crypto ETNs have also made a return to the UK retail market, reinstated after a ban that was lifted in 2025.
This latest development by BNP Paribas not only underscores its commitment to evolving financial products but also highlights the increasing acceptance and integration of cryptocurrencies within mainstream finance.
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Raj Patel
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