ING Germany’s Strategic Expansion: Unlocking Crypto ETPs and ETNs with Bitwise and VanEck

In a significant move bridging traditional finance and digital assets, ING Germany announced strategic partnerships with leading U.S. asset managers Bitwise and VanEck to expand cryptocurrency investment offerings for its retail clients starting February 2025. This expansion represents a calculated step by one of Europe’s largest banking institutions to provide regulated, accessible crypto exposure despite ongoing market volatility. The Frankfurt-based retail unit of Dutch multinational ING Group will now offer a comprehensive suite of exchange-traded products (ETPs) and exchange-traded notes (ETNs), joining existing offerings from 21Shares, WisdomTree, and BlackRock’s iShares. This development occurs against a backdrop of challenging market conditions, with Bitcoin trading approximately 10% lower year-to-date, yet demonstrates continued institutional adoption momentum.

ING Germany’s Crypto Expansion Strategy

ING Germany’s partnership initiative marks a deliberate expansion of its digital asset portfolio. The bank will integrate Bitwise’s crypto ETPs and VanEck’s crypto ETNs into its existing investment platform. Consequently, German retail investors gain access to professionally managed cryptocurrency products through their traditional banking relationship. This approach contrasts with direct crypto exchange trading, offering familiar investment structures with regulatory oversight. The bank’s decision reflects growing European demand for crypto exposure within conventional financial frameworks. Moreover, this expansion follows similar moves by other European banks, signaling a broader trend of traditional finance embracing digital assets.

Starting in February 2025, ING Germany clients can trade Bitwise crypto ETPs with order sizes of at least 1,000 euros without execution fees. Smaller orders will incur a 3.90 euro commission. Notably, these products will also support savings plans without execution fees, encouraging long-term investment strategies. Bitwise emphasized that this partnership underscores both companies’ long-term commitment to digital assets. The promotion covers Bitwise’s full product range on Deutsche Börse Group’s Xetra platform, with particular focus on three key offerings:

• Bitwise Core Bitcoin ETP (BTC1): Direct Bitcoin exposure
• Bitwise MSCI Digital Assets Select 20 ETP (DA20): Diversified crypto basket
• Bitwise Physical Ethereum ETP (ZETH): Direct Ethereum exposure

Understanding ETPs and ETNs in Crypto Investing

Exchange-traded products (ETPs) represent a broad category of securities tracking underlying assets, while exchange-traded notes (ETNs) constitute a specific ETP type structured as unsecured debt securities. This distinction carries important implications for investors. ETPs typically hold physical assets, providing direct exposure to the underlying cryptocurrencies. Conversely, ETNs offer returns linked to an index without direct asset ownership, representing a promise to pay based on index performance. Both structures trade on traditional exchanges like Xetra, providing liquidity and regulatory oversight absent from many crypto-native platforms.

VanEck’s crypto ETNs available through ING Germany include ten securities linked to major digital assets:

The offering also includes Chainlink (LINK), Polkadot (DOT), Polygon (POL), and two basket ETNs providing diversified exposure. This comprehensive selection enables investors to build varied crypto portfolios through traditional banking channels.

Market Context and Institutional Adoption Trends

ING Germany’s expansion occurs during a complex period for crypto markets. Global crypto ETPs experienced a challenging start to 2026, recording approximately $3.43 billion in outflows over two weeks and $1 billion year-to-date according to CoinShares data. However, Bitcoin ETFs demonstrated resilience with a Monday rebound attracting $562 million in inflows according to SoSoValue. This volatility highlights the importance of regulated, institutional-grade products for risk-averse investors. Traditional financial institutions like ING Germany provide crucial infrastructure and trust frameworks that can stabilize crypto investment during turbulent periods.

The German banking sector has emerged as a European leader in crypto integration. BaFin, Germany’s financial regulator, has established clear guidelines for crypto custody and trading, creating a predictable regulatory environment. Consequently, multiple German banks now offer crypto services, with ING’s expansion representing the latest development in this trend. This regulatory clarity contrasts with approaches in other jurisdictions, potentially positioning Germany as a European hub for institutional crypto adoption.

Comparative Analysis: ETPs vs. Direct Crypto Ownership

Investors considering ING Germany’s new offerings should understand key differences between ETPs/ETNs and direct cryptocurrency ownership. ETPs provide exposure without requiring investors to manage private keys or navigate crypto exchanges. This eliminates security concerns associated with self-custody while introducing counterparty risk through the issuing institution. Additionally, ETPs and ETNs offer tax advantages in some jurisdictions compared to direct crypto holdings. However, they may involve management fees absent in direct ownership.

The Bitwise and VanEck products available through ING Germany undergo regular auditing and comply with European financial regulations. This regulatory oversight provides investor protections unavailable in decentralized finance (DeFi) or unregulated exchanges. Furthermore, these products integrate with existing banking infrastructure, enabling seamless portfolio management alongside traditional investments. For many German investors, this accessibility outweighs potential disadvantages like fees or indirect exposure.

Expert Perspectives on Banking Crypto Integration

Financial analysts note that ING Germany’s expansion reflects broader institutional adoption patterns. Traditional banks increasingly recognize cryptocurrency as an asset class requiring dedicated investment products. This recognition follows years of cautious observation and regulatory development. European banks particularly face pressure to innovate as digital asset adoption grows among younger demographics. ING’s partnership approach with established asset managers like Bitwise and VanEck represents a risk-managed entry strategy.

Industry observers highlight the timing significance. Despite recent market downturns, institutional interest persists, suggesting long-term conviction in digital assets’ structural role. Banking crypto products typically attract different investor profiles than crypto exchanges, often appealing to older, more conservative demographics seeking regulated exposure. This diversification strengthens overall market resilience during volatility periods.

Future Implications for European Crypto Markets

ING Germany’s expansion likely signals further European bank crypto integrations throughout 2025. As regulatory frameworks mature, additional financial institutions will probably launch similar offerings. This trend could increase overall market liquidity and stability while broadening investor participation. However, challenges remain regarding regulatory harmonization across European Union member states and evolving compliance requirements.

The partnership also highlights growing competition among asset managers for bank distribution channels. Bitwise and VanEck’s ING Germany agreements follow similar deals with other European banks, suggesting consolidation among crypto product providers. This competition may drive innovation in product structures and fee reductions, ultimately benefiting investors. Additionally, increased institutional participation could influence cryptocurrency market dynamics, potentially reducing volatility over time.

Conclusion

ING Germany’s strategic expansion into crypto ETPs and ETNs through partnerships with Bitwise and VanEck represents a significant milestone in traditional finance’s digital asset integration. Starting February 2025, German retail investors will access diversified cryptocurrency exposure through regulated, familiar banking channels. This development demonstrates institutional commitment despite market volatility and reflects Europe’s evolving regulatory landscape. As banks continue bridging traditional and digital finance, products like those offered through ING Germany will likely become standard investment options, further legitimizing cryptocurrencies as an asset class while providing investors with secure, accessible exposure mechanisms.

FAQs

Q1: What exactly are ING Germany offering with Bitwise and VanEck?
ING Germany is providing access to cryptocurrency exchange-traded products (ETPs) from Bitwise and exchange-traded notes (ETNs) from VanEck, allowing clients to invest in digital assets like Bitcoin, Ethereum, Solana, and XRP through traditional banking channels starting February 2025.

Q2: How do ETPs differ from ETNs in crypto investing?
ETPs are securities tracking underlying assets and often hold physical cryptocurrencies. ETNs are debt securities offering returns linked to an index without direct asset ownership. Both trade on traditional exchanges but involve different structures and risk profiles.

Q3: What are the minimum investment amounts and fees?
Bitwise ETPs require minimum 1,000 euro orders without execution fees. Smaller orders incur a 3.90 euro commission. The products support savings plans without execution fees, encouraging regular investing.

Q4: Why is ING Germany expanding crypto offerings during market volatility?
The expansion reflects long-term institutional conviction in digital assets as an asset class. Banks recognize growing client demand for regulated crypto exposure regardless of short-term market conditions, viewing volatility as typical for emerging investment categories.

Q5: How does this affect Germany’s position in European crypto adoption?
ING Germany’s move strengthens Germany’s leadership in European crypto integration. With clear BaFin regulations and multiple banks offering crypto services, Germany provides a model for balanced innovation and investor protection that other EU nations may follow.