French multinational global bank BNP Paribas is expanding its investment offering to include six cryptocurrency-linked exchange-traded securities (ETNs), giving retail clients in France access to exposure to Bitcoin and Ethereum through regulated products.

The new ETNs, linked to the price of Bitcoin (BTC) and Ethereum (ETH), will be available starting Monday via standard securities accounts, according to the company. The products are open to individual investors, entrepreneurs, private banking clients and users of the bank’s digital platform, Hello Bank!. The offering may later extend to wealth management clients outside France.

Unlike direct cryptocurrency purchases, ETNs allow investors to track the performance of digital assets without holding them. ETNs carry credit risk (if the bank fails, you lose money), no tracking error and tax advantages.

The move builds on the French bank’s broader digital asset efforts. In 2024, BNP Paribas arranged and placed the first digital sovereign bonds in Slovenia, marking the first EU issuance of a blockchain-based government bond.

Related to: Trading 212 allows crypto ETNs to be traded for UK retail traders without Financial Conduct Authority (FCA) approval: FT

BNP Paribas joins the Canton Network

In September last year, BNP Paribas and HSBC joined the Canton Foundation, which governs the Canton Network, a blockchain focused on institutional finance and real-world asset tokenization.

Before that, BNP Paribas joined Goldman Sachs, Citadel and other major financial players in backing Digital Asset’s $135 million financing round. Digital Assets is the company behind Canton.

Last month, BNP Paribas Asset Management also launched a money market fund token share class on the Ethereum blockchain, expanding its efforts toward tokenizing funds using public infrastructure. The move builds on a previous private edition of the blockchain in Luxembourg.

Related to: The head of the German Bundesbank touts the benefits of stablecoins and EU central bank digital currencies

Crypto ETN adoption is growing in Europe

Adoption of cryptocurrency-linked ETNs is expanding across Europe, with ING Germany adding new products from Bitwise and VanEck to its investment offering.

Crypto ETNs also returned to the UK retail market in October 2025 after the Financial Conduct Authority (FCA) overturned the ban in 2021.

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