ING Germany Launches Bitwise, VanEck Crypto ETNs Amid Extreme Market Fear

VADODARA, February 3, 2026 — ING Germany, the retail banking arm of Dutch multinational ING, will launch cryptocurrency exchange-traded notes (ETNs) from Bitwise and VanEck. According to Cointelegraph, these products will integrate into savings plans with zero fees, marking a strategic pivot for traditional finance into digital assets. This daily crypto analysis examines the institutional mechanics behind the move and its implications for market structure.

Investigation: The ETN Launch Mechanics

ING Germany confirmed the launch of Bitwise and VanEck crypto ETNs. The bank will offer these structured products within its savings plan framework, eliminating management fees for retail clients. Market structure suggests this targets long-term accumulation rather than speculative trading. Consequently, the move leverages Germany's established regulatory clarity for crypto securities, providing a compliant on-ramp for conservative investors.

Underlying this trend, ING's parent company manages over €1.1 trillion in assets. The ETNs will track diversified crypto indexes, likely including Bitcoin and Ethereum. This approach mitigates single-asset volatility while capturing sector growth. In contrast, pure spot ETFs remain restricted in the EU, making ETNs the primary vehicle for bank-led crypto exposure.

Market Context & Historical Precedent

Historically, European bank crypto launches correlate with mid-cycle accumulation phases. Deutsche Bank's 2024 custody services and BNP Paribas's 2025 tokenization trials set precedents. This ETN launch occurs amid a Crypto Fear & Greed Index reading of 17/100 (Extreme Fear), mirroring the 2018 and 2022 bear market bottoms where institutional entry accelerated.

, the zero-fee structure directly challenges traditional fund economics. It reflects competitive pressure from neobanks and fintech platforms. Market analysts interpret this as a liquidity grab targeting long-term holder (LTH) cohorts. Related developments include the UAE's $280 million diamond tokenization on XRP Ledger and Elon Musk's xAI seeking crypto experts, signaling parallel institutional build-out during fear-dominated markets.

Technical Architecture & Price Action

Bitcoin currently trades at $78,824, down 2.67% in 24 hours. On-chain data indicates a Fair Value Gap (FVG) between $75,000 and $82,000. The Fibonacci 0.618 retracement level from the 2025 all-time high aligns with current support, a technical detail not in the source but critical for institutional positioning. This level often acts as an Order Block for large buyers.

Consequently, the ETN launch may provide underlying bid support. Volume Profile analysis shows thinning liquidity below $75,000, increasing the risk of a Gamma Squeeze if sentiment shifts. The 200-day moving average at $72,500 serves as a secondary structural support. Regulatory frameworks like Germany's Federal Financial Supervisory Authority (BaFin) guidelines ensure these products meet MiFID II standards, reducing legal tail risks.

By The Numbers

Why It Matters

This launch matters because it bridges traditional savings products with crypto exposure. Retail investors gain regulated, cost-efficient access without direct custody complexities. Institutional liquidity cycles typically follow such bank integrations, as seen with post-2017 ETF approvals in North America.

, the timing during Extreme Fear suggests strategic accumulation. Banks often enter during sentiment troughs to secure assets at lower valuations. This structural inflow could dampen volatility over a 5-year horizon. The European Central Bank's digital euro pilot, detailed on ECB's official site, provides broader context for regional digitization trends supporting this move.

Expert Commentary

"ING's zero-fee ETN model disrupts traditional asset management economics. It signals that major banks now view crypto as a core savings component, not a niche speculation. The Extreme Fear backdrop is ironic—institutional builders are laying infrastructure while retail panics." — CoinMarketBuzz Intelligence Desk

Market Outlook & Price Scenarios

Market structure suggests two primary scenarios based on the ETN launch and current technicals.

• Bullish Invalidation Level: $85,000. A sustained break above this resistance confirms the Fear & Greed divergence as a bullish catalyst, potentially triggering a short squeeze toward $90,000.
• Bearish Invalidation Level: $75,000. If Bitcoin loses this Fibonacci support, it invalidates the institutional accumulation thesis and could target the 200-day MA at $72,500.

The 12-month outlook hinges on whether other EU banks replicate ING's model. Historical cycles indicate that first-mover bank products often catalyze broader adoption, similar to Goldman Sachs' 2021 crypto desk expansion. Consequently, this could stabilize Bitcoin's floor above $70,000 by 2027.