BoursoBank Enters the Crypto Market

BoursoBank breaks into crypto. The Société Générale subsidiary and French retail brokerage pioneer launches crypto-backed ETPs on March 25th, partnering with digital asset leader CoinShares and investment giant BlackRock.

Five CoinShares Physical ETPs and one BlackRock ETP debut on BoursoBank's platform, making regulated crypto investments accessible to French retail investors.

This milestone marks the first time a major French retail bank offers crypto-backed products on regulated markets through standard securities accounts.

"From price tracking to account viewing, and now investing," says BoursoBank CEO Benoît Grisoni. "This is just the beginning."

"This partnership consolidates CoinShares' position as the European leader in institutional investment in digital assets," says Jean-Marie Mognetti, CEO of CoinShares, with satisfaction. "BoursoBank's entry into this market marks a real turning point for the adoption of digital assets in France. "

Among the products on offer:

• CoinShares Physical Bitcoin (0.25% annual fee)
• CoinShares Physical XRP (1.50%)
• CoinShares Physical Staked Ethereum, Staked Solana and Staked Cardano, all three with no management fees and staking rewards of up to 3% per annum.

These ETPs are listed on traditional exchanges and benefit from physical replication, guaranteeing real ownership of the underlying assets.

"If an investor wants to buy €50 million worth of our products, a market maker will go to the market to buy the corresponding number of cryptos," explains Jérôme Castille, head of compliance for CoinShares in France. "These will then be sent to the custodian, in this case Komainu, which will then have this deposit certified by an independent administrator," he continues.

"Only after the latter's validation can new ETP shares be issued and sent to the investor's portfolio via Euronext. At no point does Coinshares touch cryptos, that's not our business", he insists.

In plain English, if CoinShares goes bankrupt, investors risk nothing.

With more than 7 million customers (including 1.5 million in 2024 alone) and 17 years of leadership in bank charges, BoursoBank carries a lot of weight in the online banking landscape. Its decision to include crypto ETPs in its stock market offering reflects a clear shift: digital assets are no longer the preserve of specialist platforms or technophile profiles.

>> Report - Crypto investment offerings: European institutional investors ready to take off

‍