French multinational bank BNP Paribas is enhancing its investment options by introducing six new exchange-traded notes (ETNs) tied to cryptocurrencies, specifically Bitcoin and Ether, for retail clients in France. These ETNs will provide consumers with regulated exposure to these digital assets.
The newly available ETNs, which track Bitcoin (BTC) and Ether (ETH) prices, can be accessed through standard securities accounts starting Monday. The offer is directed at individual investors, entrepreneurs, private banking clients, and customers using the bank’s digital platform, Hello bank!. BNP Paribas might consider extending this offering to wealth management clients residing outside France in the future.
Unlike direct purchases of cryptocurrencies, ETNs allow investors to mirror the performance of these assets without actually owning them. ETNs carry their own risks (losing money if the bank collapses), but they also come with certain tax benefits.
This initiative is part of BNP Paribas’s larger strategy to tap into the digital asset market. In 2024, the bank facilitated Slovenia’s inaugural digital sovereign bond, marking the EU’s first issuance of a blockchain-based government bond.
BNP Paribas Joins the Canton Network
In September of the previous year, BNP Paribas along with HSBC became part of the Canton Foundation, which oversees the Canton Network—a platform dedicated to institutional finance and real-world asset tokenization. Before this, BNP Paribas participated in a $135 million funding round led by Digital Asset, which is known for its involvement in the Canton project.
Recently, BNP Paribas Asset Management also introduced a tokenized share class for a money market fund on the Ethereum blockchain, further advancing its efforts in the space of fund tokenization utilizing public infrastructure. This comes on the heels of a previous issuance via private blockchain in Luxembourg.
Growth of Crypto ETNs Across Europe
The trend of incorporating crypto-linked ETNs is gaining momentum across Europe, as evidenced by ING Germany’s introduction of new offerings from Bitwise and VanEck. Additionally, crypto ETNs reentered the UK retail market in October 2025 following the Financial Conduct Authority’s (FCA) decision to lift a ban that had been in place since 2021.
