Since this Monday, BNP Paribas is allowing its French clients to invest in the two largest cryptocurrencies in the market, bitcoin and ether, through their ordinary securities account.
In France, it’s not just online banks like Revolut, N26, or BoursoBank that allow exposure to cryptocurrencies. Starting this Monday, March 30, the French bank BNP Paribas is enabling its clients to invest in the two largest cryptocurrencies in the market, bitcoin and ether.
Its French clients can now invest in six crypto ETNs linked to bitcoin or ether through their ordinary securities account. The bank has expanded its ETN offering “to meet the demand of investors for the crypto-assets market.”
This service is available on both the retail bank, the private bank, and its associated online bank, Hello bank!.
“These securities are issued by recognized asset managers, selected by BNP Paribas for their strength and risk management mechanisms,” the bank stated in a press release.
As a reminder, an ETN (Exchange Traded Note) is a publicly traded fund that follows the performance of a stock index (or one or more financial or physical assets, like gold) by replicating both its increase and decrease in value. This type of product also applies to cryptocurrencies.
A year before BNP Paribas, BoursoBank allowed its clients to invest in 5 ETPs linked to the 5 largest cryptocurrencies in the market, including bitcoin, ether, and solana. The introduction of these products in the French market follows the launch of the first bitcoin spot ETFs in the United States in January 2024.
These financial products have gained popularity in recent years, especially since the arrival of Donald Trump at the White House. Allowing exposure to bitcoin without the need to use a crypto exchange can reassure investors, particularly in terms of security and risk management. The emergence of these products marks a phase of institutionalization for bitcoin.
