ING Enables Germans to Buy Bitcoin, Ether, Solana Directly
Germany’s largest retail bank, ING Deutschland, has made a significant move by allowing customers to purchase cryptocurrency directly through their bank accounts. With this new feature, clients can invest in exchange-traded products that track Bitcoin, Ether, and Solana. This initiative highlights the increasing interest in digital assets among everyday investors.
New Investment Opportunities with Crypto ETFs
Customers can now buy crypto-backed exchange-traded products from reputable issuers like 21Shares, Bitwise, and VanEck. These financial products are designed to mirror the movements of the respective cryptocurrencies and can be traded on established exchanges.
ING Direct Depot: A Convenient Solution
The process is seamless through the bank’s Direct Depot service, a securities account tailored for online trading. Users can manage their investments in stocks, ETFs, and funds all in one place. This setup offers a user-friendly approach to accessing cryptocurrency investments without the complexities of digital wallets and keys.
Growing Demand for Digital Assets
The introduction of these crypto investment options comes at a time when interest in digital assets is on the rise. According to research from Deutsche Bank, retail cryptocurrency adoption in Germany reached 9% by 2025, only slightly lower than the 12% seen in the United States.
Comments from Industry Leaders
Martijn Rozemuller, CEO of VanEck Europe, emphasized the importance of this collaboration. He stated that the partnership with ING offers investors a straightforward entry point into crypto markets. Rozemuller noted, “Many investors seek a solution that integrates with existing depot structures while providing transparent costs.”
Tax Benefits of Crypto Products
Another advantage of these products is their favorable tax treatment in Germany. Gains from these crypto ETFs are treated similarly to those from direct ownership of cryptocurrencies. If held for over a year, profits are exempt from capital gains tax.
Key Takeaways
- ING Deutschland allows direct purchase of Bitcoin, Ether, and Solana via bank accounts.
- Crypto-backed ETFs mirror the price movements of respective cryptocurrencies.
- The Direct Depot account simplifies trading for investors.
- Retail crypto adoption in Germany is projected to reach 9% by 2025.
- Long-term holding of these products may offer tax advantages.
As traditional financial institutions embrace cryptocurrency, ING Deutschland’s initiative marks a pivotal step towards mainstream adoption of digital assets in Germany.
