BoursoBank, formerly known as Boursorama, has taken a significant leap into the digital asset space by launching a new suite of crypto-backed exchange-traded products (ETPs). These innovative financial instruments, issued by global investment giant BlackRock through its iShares brand and leading digital asset firm CoinShares, mark a pivotal moment for retail access to cryptocurrencies in Europe.
This strategic move positions BoursoBank at the forefront of fintech innovation, offering its users direct exposure to major digital currencies through regulated financial products. As demand for crypto investment options continues to surge, this development reflects a broader shift toward mainstream financial integration.
What Are Crypto ETPs on BoursoBank?
Announced this week, BoursoBank’s crypto ETPs are structured as exchange-traded notes (ETNs) — debt securities linked to the performance of underlying crypto assets. These ETNs are issued by two industry leaders: iShares by BlackRock, renowned for its spot Bitcoin ETF in the U.S., and CoinShares, a pioneer in physically backed crypto ETNs in Europe.
“BoursoBank is expanding its offering with the addition of ETN products issued by iShares and CoinShares, backed by crypto assets.”
This means investors can now gain exposure to digital currencies like Bitcoin and Ethereum without the complexities of self-custody or navigating decentralized platforms. Instead, they can buy and hold these ETNs directly within their BoursoBank securities accounts, just like traditional stocks or ETFs.
The platform currently offers ETNs across five major cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Solana (SOL)
- Cardano (ADA)
- Ripple (XRP)
Notably, two separate Bitcoin ETNs are available: the newly launched iShares Bitcoin ETP and the CoinShares Physical Bitcoin ETN, giving investors choice in issuer and structure. The remaining assets are covered exclusively via CoinShares’ physically backed ETNs.
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Why This Move Matters for European Investors
While cryptocurrency ownership is growing rapidly — with over 9% of French adults now holding digital assets — regulatory frameworks in France and much of Europe have limited access to crypto-based exchange-traded funds (ETFs). Unlike the U.S., where spot Bitcoin ETFs have been approved, European regulators currently do not permit single-asset ETFs due to MiFID II restrictions.
As a result, ETNs have become the primary vehicle for regulated crypto exposure in Europe. By listing these products, BoursoBank is effectively bridging the gap between traditional finance and the digital asset economy.
This expansion also underscores a key trend: crypto assets have become the most commonly held financial product among new investors. Their appeal lies in high growth potential, 24/7 market access, and diversification benefits. With total assets under management in crypto ETFs and ETNs reaching $92 billion by July 2024, institutional and retail interest is clearly accelerating.
CoinShares emphasized the importance of this collaboration:
“We are honored to partner with BoursoBank on this groundbreaking initiative. Their entry into the crypto ETP market represents a crucial step toward broader adoption of digital assets in France.”
This sentiment highlights how partnerships between traditional financial institutions and crypto-native firms are paving the way for wider acceptance.
BlackRock’s European Expansion: A Step Toward a Spot Bitcoin ETF?
The inclusion of BlackRock’s iShares Bitcoin ETP on BoursoBank’s platform signals more than just product diversification — it may foreshadow a future spot Bitcoin ETF approval in Europe.
Although current EU regulations restrict single-asset ETFs, BlackRock’s presence through an ETN structure allows it to build market credibility and investor familiarity ahead of potential regulatory changes. This mirrors its successful U.S. strategy, where years of advocacy preceded the SEC’s approval of its spot Bitcoin ETF.
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Moreover, because these ETNs are physically backed — meaning each note is secured by actual holdings of the underlying cryptocurrency — they offer transparency and reduce counterparty risk compared to synthetic alternatives.
How to Access These Crypto ETPs
For investors using BoursoBank, accessing these ETPs is straightforward:
- Log in to your BoursoBank securities account (compte-titres).
- Navigate to the investment section and search for the desired ETP using its ticker symbol.
- Place a buy order during market hours, just as you would with any stock or ETF.
No need for external exchanges, wallets, or KYC processes beyond what’s already completed with BoursoBank. This seamless integration lowers barriers to entry and enhances security — a major advantage for risk-conscious investors.
Additionally, because these products are traded on regulated exchanges, they benefit from price transparency, liquidity, and oversight — features often missing from decentralized crypto platforms.
Frequently Asked Questions (FAQ)
✅ What’s the difference between an ETF and an ETN?
An ETF (Exchange-Traded Fund) holds actual assets and distributes returns based on their performance. An ETN (Exchange-Traded Note) is a debt instrument issued by a financial institution that tracks an index or asset but doesn’t own it directly. Returns depend on the issuer’s creditworthiness and the underlying asset’s performance.
✅ Are crypto ETNs safe?
Crypto ETNs like those from iShares and CoinShares are considered relatively secure because they’re:
- Listed on regulated exchanges
- Backed by physical crypto holdings
- Issued by reputable financial institutions
However, they still carry market risk due to cryptocurrency volatility and issuer credit risk.
✅ Can I store these ETPs in a personal wallet?
No. Unlike native cryptocurrencies, ETNs exist only within your brokerage account (e.g., BoursoBank). You cannot transfer them to a private wallet since they are financial securities, not digital tokens.
✅ Is there tax reporting for crypto ETPs in France?
Yes. Gains from selling crypto ETPs are subject to France’s flat tax (Prélèvement Forfaitaire Unique - PFU) of 30%, which includes income tax and social contributions. Holding them in a PEA may offer advantages if rules evolve to include such products.
✅ Will this lead to more crypto products on French platforms?
Likely. BoursoBank’s move sets a precedent. As demand grows and regulations adapt, other banks may follow suit by adding more digital asset products, including staking-linked notes or multi-asset crypto baskets.
✅ How does this compare to buying Bitcoin directly?
Buying Bitcoin directly gives full ownership and control but requires managing wallets and security. With an ETP, you trade convenience and safety for less control — ideal for investors who prefer a hands-off, regulated approach.
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Final Thoughts: The Future of Crypto Investing in Europe
BoursoBank’s launch of crypto ETPs with BlackRock and CoinShares is more than a product update — it’s a signal of deepening integration between traditional finance and digital assets. For European investors, this means easier, safer access to high-potential cryptocurrencies through trusted financial channels.
As regulatory landscapes evolve and investor appetite grows, we’re likely to see further innovation — including potential approvals for spot crypto ETFs across Europe. Until then, ETNs remain the gold standard for compliant, accessible crypto exposure.
For those looking to diversify portfolios with digital assets while staying within regulated frameworks, now is an excellent time to explore these new opportunities.
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