It is possible to expose yourself to the evolution of cryptocurrencies, bitcoin in the lead, not by buying them but via financial products similar to ETFs (exchange traded funds, or exchange-traded index funds whose performance replicates that of an index or basket of values). These products replicate the performance of a digital currency such as bitcoin or ethereum, or that of a basket of cryptocurrencies. They are managed by specialized companies such as 21Shares, CoinShares, VanEck or Wisdom Tree.
“It is much easier for an individual to invest in crypto through products listed on the stock exchange, because it is not necessary to open an account on a specialized platform: all you need is a securities account. at a courtier’s, assures Ophelia Snyder, president and co-founder of 21Shares, a company based in Switzerland whose twenty-five products are listed on Euronext (the company which manages several European stock exchanges including that of Paris). “Our clients do not seek to speculate in the short term but use our products to diversify their securities portfolio over the long term”, she adds.
Find the right courtier
In practice, it is not enough for a product to be listed on Euronext to be easily accessible to individuals in France. Everything really depends on their courtier. Thus, Bourse Direct allows its customers to access only two products from the American VanEck, replicating bitcoin and ethereum. They are listed on Euronext and are therefore negotiable under the same price conditions as any other security listed on this market. “We have thought about expanding our offer. However, as some issuers do not use the same securities settlement-delivery system, this can sometimes be a hindrance”tempers Frédéric Garcia, head of the Bourse Direct trading room.
At Boursorama Banque, on the other hand, customers do not have access to these products that replicate crypto prices. For its part, Degiro offers around a hundred products reproducing around thirty different cryptos. Other brokers like IG and Easybourse offer sophisticated products like warrants and turbos on cryptos, which allow betting on their evolution.