French multinational universal bank BNP Paribas is expanding its investment offering to include six crypto-linked exchange-traded notes (ETNs), giving retail clients in France access to Bitcoin and Ether exposure through regulated products.
The new ETNs, indexed to the price of Bitcoin and Ether, will be available from Monday via standard securities accounts, according to the company.
The products are open to individual investors, entrepreneurs, private banking clients and users of the bank’s digital platform, Hello bank!.
The rollout may later extend to wealth management clients outside France. Unlike direct crypto purchases, ETNs allow investors to track the performance of digital assets without holding them. ETNs have credit risk (if the bank fails, you lose money), no tracking error and tax advantages.
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