ING Germany Enhances Crypto ETPs, ETNs with Bitwise and VanEck
ING Germany is moving forward with its crypto investment strategy by partnering with US asset managers Bitwise and VanEck. This initiative aims to broaden access to cryptocurrency investment options in the German market.
New Crypto ETPs and ETNs Launch
The German bank has announced the introduction of crypto exchange-traded products (ETPs) from Bitwise and exchange-traded notes (ETNs) from VanEck. These new investment vehicles will complement existing offerings available from other providers, including 21Shares, WisdomTree, and BlackRock’s iShares.
Available Cryptocurrencies
Starting in February, clients of ING Germany will have access to the following digital assets:
- Bitcoin (BTC)
- Ether (ETH)
- Solana (SOL)
- XRP
- Algorand (ALGO)
- Avalanche (AVAX)
- Chainlink (LINK)
- Polkadot (DOT)
- Polygon (POL)
Investment Terms and Conditions
Investors can trade Bitwise crypto ETPs with minimum order sizes of 1,000 euros (approximately $1,180) without execution fees. For smaller orders, a commission of $4.60 will apply. Additionally, these products can be utilized for savings plans without incurring execution fees.
Key Products from Bitwise and VanEck
The partnership highlights three primary products from Bitwise, including:
- Bitwise Core Bitcoin ETP (BTC1)
- Bitwise MSCI Digital Assets Select 20 ETP (DA20)
- Bitwise Physical Ethereum ETP (ZETH)
VanEck’s listing includes 10 ETNs associated with various cryptocurrencies and two basket ETNs that provide exposure to a collection of digital assets.
Market Context and Trends
The launch of these new crypto products occurs amidst a challenging crypto market environment. Bitcoin has seen a year-to-date decline of around 10%. Despite these fluctuations, adoption by traditional finance sectors appears to be increasing.
In a broader context, global crypto ETPs faced significant outflows, totaling approximately $3.43 billion in just two weeks. However, recent data indicates a rebound, with Bitcoin ETFs attracting $562 million in inflows.
This strategy by ING Germany demonstrates a commitment to facilitating access to innovative financial products amid evolving market conditions.
