The German division of ING Bank has opened access to exchange-traded notes (ETNs) focused on cryptocurrencies for retail clients. These instruments allow investments in Bitcoin, Ethereum, and Solana through a familiar banking interface.
The products are issued by providers 21Shares, Bitwise, and VanEck. They are physically backed instruments traded on regulated exchanges via the Direct Depot platform.
The main advantage of this new service is the elimination of the need to manage private keys and external wallets.
According to Martijn Rozemuller, CEO of VanEck Europe, this partnership lowers the entry barrier to the industry. Investors can access digital assets within standard custodial structures with transparent fees.
ING clarified the tax implications. Investments in ETNs in Germany are taxed similarly to direct cryptocurrency purchases. If a position is held for more than one year, profits are exempt from capital gains tax.
However, the bank warned about risks. A notice to clients highlighted high volatility, the lack of intrinsic value of the assets, and the possibility of total loss of funds in the event of the issuer's bankruptcy.
Moscow Exchange Plans
In Russia, trading platforms are also expanding their offerings. In 2026, the Moscow Exchange plans to launch three indices and futures for Solana, XRP, and TRON. The platform is also considering adding perpetual contracts for Bitcoin and Ethereum. This was announced by Maria Silkina, the head of the futures market product group at the Moscow Exchange, during a broadcast on RBC.
To launch a futures contract, a corresponding index is required as the underlying asset. The calculation methodology and publication of data on new coins will be the first step.
The new contracts will be cash-settled (without the delivery of coins) and will expire monthly. Access will be granted only to qualified investors.
After expanding the range of pairs, the Moscow Exchange intends to introduce perpetual futures and options. These will operate based on the same indices as the monthly contracts.
As a reminder, in April 2025, media reported on a MiCA-regulated stablecoin from ING Bank.