BNP Paribas to Debut Six Bitcoin and Ethereum ETNs for French Clients

BNP Paribas plans to roll out six crypto exchange-traded notes (ETNs) linked to Bitcoin and Ethereum in France on March 30, 2026, the bank said. The products will be distributed via its local platform to retail investors and private banking clients, offering indirect exposure to digital assets without requiring direct ownership. The bank said the ETNs use index-linked structures to track Bitcoin and Ethereum. As with ETNs generally, investors face both market risk and issuer credit risk. The offering will be made under MiFID II, aligning the products with EU standards on transparency and investor protection. BNP Paribas said the initial launch will focus on domestic clients, with distribution to other regions planned in stages. The launch sits alongside the group's broader blockchain agenda, including work in trade finance, securities settlement and digital-asset infrastructure. BNP Paribas has also partnered with fintech and blockchain firms and is part of the Qivalis consortium, which is developing a euro-pegged stablecoin aimed for a late-2026 rollout under MiCA rules. The bank recently tested tokenized money market fund shares using Ethereum infrastructure within a controlled environment. The initiative comes as retail investing activity in France has increased. About 2.5 million individuals traded equities in 2025, with roughly 1.6 million new participants joining over the past three years. French households also hold around €2 trillion in liquid savings, a pool that could support demand for structured crypto-linked exposure if allocations shift toward such instruments.