BNP Paribas AM expands its offering: six ETNs on Bitcoin and Ether now available to French retail clients

The move, announced by the Commercial Banking France division, marks the group’s structured entry into the crypto-asset investment segment for private investors.

BNP Paribas has chosen the path of regulation and investor protection to enter the cryptocurrency market. The new products, available via a self-directed securities account, are issued by asset managers selected by the bank for their financial strength and risk management systems.

The initiative is in line with the MiFID II regulatory framework, which guarantees high standards of transparency and protection for clients. This does not involve the direct purchase of Bitcoin or Ether, but rather an indirect investment that tracks the performance of crypto-assets through regulated financial instruments.

Six products for exposure to Bitcoin and Ether

The offering comprises six ETNs indexed exclusively to the two leading digital assets by market capitalisation: Bitcoin and Ether. The products will be accessible via securities accounts for various client categories:

BNP Paribas’s retail and business clients in France;

Private Banking clients;

Hello bank! clients.

Access is self-directed, without mandatory advice, but within a framework of transparency required by European regulations.

BNP Paribas notes that ETNs are debt instruments issued by specialised intermediaries. Investors purchase a security whose value tracks the performance of the underlying digital asset, without having to directly manage the custody of private keys or trade on unregulated exchanges.

The regulatory framework: MiFID II and issuer selection

The decision to operate via ETNs allows BNP Paribas to keep its offering within the scope of European financial supervision. ETNs are classified as financial instruments under the MiFID2 directive, with disclosure and transparency obligations towards the investor.

The bank has selected recognised issuers, without however disclosing their names in the official announcement. The selection, the bank explains, is based on criteria of financial soundness and robust risk management systems, key elements in ensuring the security of indirect investment in highly volatile assets.

A strategic expansion of the stock market offering

The introduction of crypto-asset ETNs is part of a broader strategy to expand the range of products available on the stock market for retail clients. BNP Paribas’ existing offering already includes shares, bonds, ETFs, SCPIs (Real Estate Investment Trusts) and structured products.

The move into the crypto-asset sector is a response to growing demand from a segment of the client base seeking exposure to the digital sector without leaving the traditional banking framework.

The six ETNs are scheduled to be available in France from 30 March 2026. The official statement indicates that the products will also be gradually made available to BNP Paribas Wealth Management clients outside France, though no timetable has been specified for other European countries.

The context: BNP Paribas’ crypto initiatives

This move follows other initiatives by the group in the digital assets sector. In February 2026, BNP Paribas Asset Management launched a pilot project to tokenise a money market fund on the Ethereum blockchain, using the internal AssetFoundry platform. As part of this, the group issued a tokenised share of a French money market fund, operating within an authorised access model on the public blockchain.

During the same period, BNP Paribas joined the consortium developing Qivalis, a euro-backed stablecoin supported by 12 European banks, with a commercial launch scheduled for the second half of 2026.

BNP Paribas’s recent inclusion on the list of operators authorised by REGAFI (Register of Financial Intermediaries) as an issuer of crypto-assets (ART – Asset Referenced Token, EMT – Electronic Money Token) confirms the group’s commitment to adapting its structure to the new MiCA (Markets in Crypto-Assets) regulations.

Conclusions

By adding six ETNs on Bitcoin and Ether to its retail catalogue, BNP Paribas is taking a concrete step towards integrating crypto-assets into its advisory services and traditional banking offering. This approach, characterised by selectivity in issuers and compliance with European directives, reflects the desire to offer a regulated channel for exposure to a market historically perceived as high-risk.