ING Deutschland Adds Regulated BTC, ETH and SOL ETNs to Retail Brokerage
ING Deutschland (ING‑DiBa) has launched regulated, physically backed exchange-traded notes (ETNs) for Bitcoin (BTC), Ethereum (ETH) and Solana (SOL) on its retail Direct Depot securities platform. Issuers include established providers such as 21Shares, Bitwise and VanEck, with VanEck Europe confirming a strategic partnership on the rollout. The ETNs — including staking-enabled Solana products and crypto index ETNs — let customers gain crypto exposure within existing brokerage accounts without managing private keys or external wallets, and trade on regulated exchanges under conventional custody and reporting frameworks. From 2 February 2026 ING adopted a new fee schedule: no trading fees for orders ≥ €1,000 and a €3.90 fixed fee for orders below €1,000; associated savings-plan (savings plan) purchases are fee-free. ING says the move lowers barriers to crypto investing, reduces self-custody operational risk, and integrates crypto into traditional portfolios while warning of substantial risks: high price volatility, issuer insolvency, liquidity constraints, market manipulation and regulatory uncertainty. For traders, the launch creates a regulated, custody-lite route to BTC, ETH and SOL exposure through a major retail bank, which may broaden institutional and retail access and affect demand dynamics for the underlying assets.
Bullish
The introduction of regulated, physically backed ETNs for BTC, ETH and SOL via a major retail bank is likely bullish for the underlying tokens. Short-term, the announcement may boost demand as retail investors who previously avoided self-custody use brokerage accounts to gain crypto exposure; fee incentives for larger orders could concentrate flows. The regulated structure and established issuers lower perceived operational risk and broaden the addressable market, potentially improving liquidity and bid-side pressure. Over the medium to long term, easier access through mainstream brokerages can increase adoption and capital inflows, supporting price appreciation. However, upside is moderated by remaining risk factors: ETN issuer credit risk, secondary-market liquidity limits, and the possibility that ETNs substitute for spot buying on some venues. Regulatory shifts or adverse events tied to ETN issuers could reverse sentiment quickly, so traders should monitor flows, ETF/ETN AUM figures, liquidity spreads, and any issuer-specific announcements.