BNP Paribas announced that starting from March 30, it will offer 6 exchange-traded notes (ETNs) linked to Bitcoin (BTC) and Ethereum (ETH) for French retail clients.
These products are designed to provide indirect exposure to cryptocurrency price fluctuations through unsecured debt securities issued by third-party asset management companies.
France's largest bank, BNP Paribas, stated that the ETNs comply with MiFID II investor protection regulations and described them as compliant products.
This product is expected to be offered to individual customers, entrepreneurs, private banking clients, and Hello bank! customers in France through a securities account.
It is a debt product, not directly held cryptocurrency.
ETNs track the performance of underlying assets but are unsecured debt products that do not require investors to hold cryptocurrency directly. If the issuer defaults, the investor bears counterparty risk regarding the ETN issuer.
BNP Paribas did not specify which asset management company will issue these 6 products, merely stating that the issuers were selected based on 'robustness and risk management systems.'
The bank also did not provide details about the fee structure or which specific Bitcoin or Ethereum index the ETN will track.
These products are expected to be offered to international clients of BNP Paribas Wealth Management in the future, but no specific timeline for expansion outside France has been provided.
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As part of the overall trend of cryptocurrency expansion across the European banking sector
BNP Paribas tokenized money market funds on the Ethereum public blockchain using the AssetFoundry platform in February 2026.
The bank is also participating in the Qivalis consortium, which is promoting the development of euro-linked stablecoins together with 12 European banks, and the stablecoin is scheduled to be launched in the second half of 2026.
In March, according to the European Union's crypto asset market regulation (MiCA), it was approved as an issuer of asset-linked tokens and electronic money tokens in the French REGAFI register.
This ETN launch follows a similar product introduced at the Warsaw Stock Exchange in February, which at that time offered ETNs linked to Bitcoin, Ethereum, Solana (SOL), XRP, and others.
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