BNP Paribas Introduces Crypto ETN Investment Service

BNP Paribas, the largest bank in France, has announced the launch of a new crypto exchange-traded note (ETN) investment service for retail customers.

The service will offer six ETN products, with Bitcoin and Ethereum as the underlying assets. This move marks an expansion into digital assets for the bank's portfolio, which traditionally focuses on equities, bonds, and ETFs.

The new ETNs are designed to track performance indirectly via a securities account, eliminating the need for clients to buy or manage cryptocurrency directly.