French bank BNP Paribas has introduced six crypto-linked exchange-traded notes (ETNs) for retail clients in France, offering access to Bitcoin and Ether through regulated investment products.
These ETNs, which track Bitcoin (BTC) and Ether (ETH), are now available via standard securities accounts starting Monday. They target individual investors, entrepreneurs, private banking clients, and users of the Hello bank! platform. The launch may later extend to wealth management clients outside France.
Unlike direct crypto purchases, ETNs let investors follow digital asset performance without holding them. They carry credit risk but offer tax benefits and no tracking error.
This move builds on BNP Paribas’ broader digital asset strategy, including Slovenia’s first blockchain-based sovereign bond issuance in 2024 and participation in the Canton Network-a blockchain initiative for institutional tokenization.
The bank also recently launched a tokenized share class of a money market fund on Ethereum, continuing its exploration of public blockchain infrastructure for fund tokenization.
Crypto ETN adoption is growing across Europe. ING Germany recently added products from Bitwise and VanEck, while the UK lifted its ban on crypto ETNs in October 2025 after a 2021 prohibition.