Digital asset manager CoinShares said on Monday that five of its physically-backed crypto ETPs are now available to retail investors through Bourse Direct, one of France’s largest online brokerage platforms.
The products cover Bitcoin, Ethereum, Solana, XRP and other major digital assets. Bourse Direct clients can buy them through a standard securities account, known as a Compte Titres Ordinaire, without opening a crypto wallet or managing private keys.
Bourse Direct’s own crypto ETN page lists products from several issuers including VanEck, WisdomTree, iShares and Hashdex, with trading on organised markets such as Euronext. CoinShares calls the instruments physically-backed ETPs, while Bourse Direct and the AMF use the ETN label.
AMF doctrine change
The listing follows the AMF’s December 2025 decision to adapt its policy on complex financial products, removing warning-label requirements for eligible crypto-linked ETNs. The regulator set four conditions: underlying assets must have at least €10 billion in market capitalisation and €50 million in average daily trading volume, must be tradable on a MiCA-authorised platform, and the product must carry no leverage. Custody must sit with a MiCA-authorised provider.
The AMF said the instruments remain complex products under MiFID, subject to suitability and target-market rules.
The Bourse Direct listing is CoinShares’ second major French retail distribution deal, after its existing partnership with BoursoBank.
“France is opening up to regulated crypto products at a moment when the infrastructure is finally ready to support retail demand at scale,” said Jean-Marie Mognetti, CEO and co-founder of CoinShares.
CoinShares has been issuing crypto ETPs since 2015 and says it manages over $7 billion in assets. The group claimed a 32% share of European crypto ETP AUM as of late 2025.
