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BNP Paribas Expands Exchange Offering With Six Crypto-Asset ETNs in France

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Brian Armstrong's Bold Prediction: AI Agents Will Soon Dominate Global Financial

TLDR:

  • BNP Paribas launches six crypto-asset ETNs tied to Bitcoin and Ether for retail clients in France
  • Clients access crypto exposure through securities accounts without directly holding digital assets.
  • All six ETNs are issued by asset managers selected by BNP Paribas for risk and financial strength
  • The bank plans to gradually extend crypto ETN access to wealth management clients beyond France.

Crypto-asset ETNs are now part of BNP Paribas’ retail exchange offering in France. Europe’s third-largest bank announced six new products tied to Bitcoin and Ether.

Clients can access these securities through a standard securities account. No direct purchase of digital assets is required.

The products fall under MiFID II regulation, ensuring investor protection. Available from March 30, 2026, the ETNs mark a new chapter in the bank’s investment offering.

BNP Paribas Opens Crypto-Asset ETN Access Through Securities Accounts

The six crypto-asset ETNs will be available to clients starting March 30, 2026. Individual, entrepreneurial, and private banking clients in France can subscribe.

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Hello bank! clients are also included in this initial rollout. Clients can invest autonomously without any guidance from a banking advisor.

The products offer indirect exposure to Bitcoin and Ether performance. Investors do not need to buy or hold the underlying digital assets directly.

Instead, the ETNs track price performance through a regulated securities structure. This setup lowers the barriers for traditional investors entering the crypto space.

These securities were issued by asset managers carefully selected by BNP Paribas. The bank evaluated each issuer based on financial solidity and risk management quality.

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Only managers meeting the bank’s internal standards were included in this offering. This selection process provides clients with an added level of confidence.

BNP Paribas already offers a broad range of products on its exchange platform. Stocks, bonds, ETFs, SCPIs, and structured products are all currently available.

The addition of crypto-asset ETNs responds directly to growing client demand. The bank continues to expand its product lineup to match evolving investor interest.

MiFID II Framework and Plans to Extend Access to Wealth Management Clients

The crypto-asset ETNs are offered under the MiFID II regulatory framework. This European regulation sets standards for investor protection in financial markets.

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Under its rules, clients receive proper product disclosures and risk assessments. Compliance with this framework makes these products accessible within regulated banking channels.

The ETNs are structured to meet the requirements for retail investors. They provide crypto exposure without the complexities of direct ownership.

Clients can hold these products within an existing securities account. No additional wallets or crypto exchange registrations are needed to invest.

BNP Paribas also plans to gradually extend the offering to wealth management clients. This expansion will move beyond France to include clients in additional markets.

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The phased rollout allows the bank to manage compliance and overall client readiness. It also gives advisors adequate time to integrate these products into existing client portfolios.

The availability of regulated crypto-asset ETNs through a traditional bank is a meaningful development. It reflects growing acceptance of crypto-linked products within mainstream finance.

By offering these products, BNP Paribas gives clients more choice within a familiar framework. Investors can now approach crypto exposure using the same process applied to other asset classes within their portfolio.

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Crypto World

Uzbekistan Launches Crypto Mining Zone in Karakalpakstan

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Uzbekistan Launches Crypto Mining Zone in Karakalpakstan

Uzbekistan has created a special crypto mining zone across Karakalpakstan under a presidential resolution signed on April 17, opening a supervised framework that lets approved mining companies sell mined digital assets on foreign platforms while keeping the proceeds inside the country’s banking system.

A presidential decree effective April 20 creates the “Besqala Mining Valley,” a special mining zone across the Republic of Karakalpakstan, where registered legal entities can carry out crypto mining, use a mix of power sources and apply for resident status through a new directorate under the republic’s Council of Ministers.

The framework gives miners in the zone the right to sell crypto assets obtained through mining on national crypto exchanges or foreign platforms, including through direct contracts, and to exchange them for other liquid crypto assets. Still, the opening comes with strict controls over how mining revenues move through the financial system, and proceeds from those sales must be transferred to bank accounts in Uzbekistan.

Tax breaks aim to lure miners

The decree also provides for a tax exemption through Jan. 1, 2035, while requiring them to pay a monthly fee equal to 1% of income from mining activity to the zone’s directorate. The resolution separately instructs officials to submit draft amendments to Uzbekistan’s tax code within two months.

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The new decree adds to Uzbekistan’s recent use of special-zone incentives in Karakalpakstan to attract investment into a region that a 2025 United Nations Development Programme report described as having high poverty rates and limited industrial development.

The new framework also adjusts Uzbekistan’s earlier approach to crypto mining. In 2023, Uzbekistan’s National Agency for Perspective Projects (NAPP) issued a decree on licensing crypto mining operations, requiring firms to only use solar power to mine digital assets. 

The new decree allows a wider mix of power sources within the zone, including renewable, hydrogen and grid electricity, with higher tariffs applied for grid usage.

Related: Uzbekistan increases fees for crypto operations

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Uzbekistan expands special-zone strategy to draw investment

The move also fits a broader investment strategy in Karakalpakstan. According to a Reuters report in November 2025, the government had established a separate tax-free zone for artificial intelligence and data center projects, offering discounted electricity and tax exemptions to draw foreign investors. 

Under the initiative, foreign firms investing $100 million or more get full tax and duty exemptions until 2040. According to the report, Uzbekistan expects to attract over $1 billion in foreign investment by 2030 from the AI special zone project. 

Related: Uzbekistan greenlights stablecoins for payments under new sandbox regime

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