BNP Paribas Launches Six Cryptocurrency ETNs Tied to Bitcoin and Ethereum for French Retail Investors
French banking giant BNP Paribas introduces six exchange-traded notes linked to Bitcoin and Ether for its retail customer base in France, marking another step in traditional banks' expansion into regulated cryptocurrency products.
BNP Paribas, the multinational universal banking institution headquartered in France, is broadening its product lineup by introducing six exchange-traded notes (ETNs) connected to cryptocurrency, providing retail customers in France with the opportunity to gain exposure to Bitcoin and Ether via regulated financial instruments.
These newly introduced ETNs, which track the value of Bitcoin (BTC) and Ether (ETH), will become accessible starting Monday through conventional securities accounts, as stated by the financial institution. The investment products will be made available to a diverse range of clients including individual retail investors, business entrepreneurs, customers of the private banking division, and subscribers to the bank's online digital banking service, Hello bank!. The bank may subsequently expand access to wealth management customers located beyond France's borders.
In contrast to purchasing cryptocurrencies directly, ETNs provide investors with the ability to follow the price movement of digital currencies without actually owning them. ETNs carry credit risk (meaning investors face losses if the issuing bank becomes insolvent), feature zero tracking error, and offer beneficial tax treatment.
This latest initiative continues the French banking institution's wider engagement with digital assets. Throughout 2024, BNP Paribas served as the arranger and placement agent for Slovenia's inaugural digital sovereign bond, representing the European Union's first-ever issuance of a government bond utilizing blockchain technology.
BNP Paribas join Canton Network
During September of the previous year, both BNP Paribas and HSBC became members of the Canton Foundation, the governing body overseeing the Canton Network, a blockchain platform designed specifically for institutional financial services and the tokenization of real-world assets.
Before this development, BNP Paribas participated alongside Goldman Sachs, Citadel, and other prominent financial institutions in supporting Digital Asset's $135 million capital raising round. Digital Asset serves as the company responsible for creating Canton.
During the previous month, BNP Paribas Asset Management additionally introduced a tokenized share class for a money market fund deployed on the Ethereum blockchain, furthering its advancement into fund tokenization utilizing public blockchain infrastructure. This development follows an earlier tokenization initiative conducted on a private blockchain in Luxembourg.
Crypto ETN adoption grows in Europe
The acceptance and utilization of cryptocurrency-linked ETNs continues to grow throughout Europe, with Germany's ING incorporating additional products from Bitwise and VanEck into its available investment selections.
Cryptocurrency ETNs made their return to the United Kingdom's retail investment market during October 2025 following the Financial Conduct Authority's (FCA) decision to overturn a prohibition that had been put in place in 2021.