#France #Digital Assets #CoinShares #Saint Helier #Crypto ETNs

France Opens Doors to Retail Crypto Market

In a significant move that marks the evolution of cryptocurrency regulations in Europe, France's Autorité des marchés financiers (AMF) has taken steps to make retail access to crypto exchange-traded notes (ETNs) more accessible. This regulatory shift aligns with similar changes in the UK and Nordic countries, as the European market for crypto-related products rapidly expands. CoinShares International Limited, a prominent global asset manager specializing in digital assets, is at the forefront of this transformation, boasting a notable market share in Europe.

Key Changes in France's Crypto Regulation

The AMF has revised its guidelines to eliminate previous restrictions on retail marketing of crypto-indexed ETNs, thereby removing onerous warning-label requirements for compliant products. This change opens the floodgates for millions of retail investors in France, allowing them to participate more actively in the cryptocurrency sector. As part of this growth trend, prominent financial institutions are now increasingly eager to engage with cryptocurrencies, reflecting a broader acceptance of digital assets.

A Shift in the European Crypto Landscape

This regulatory evolution comes on the heels of the UK's Financial Conduct Authority (FCA) lifting its ban on retail crypto ETNs, which has effectively granted approximately 7 million UK citizens access to regulated crypto products. In the Nordic regions, major banks such as Nordea, managing over €648 billion in assets, are set to introduce CoinShares' Bitcoin ETN by December 2025, marking a significant shift from previous institutional hesitations. This coordinated push across European borders signifies a newfound willingness among regulators and financial institutions to embrace digital currencies.

With these developments, CoinShares has positioned itself strategically to capitalize on the surge in demand for crypto products. As of late 2025, the company has seen over $1 billion in net inflows across its European crypto ETP market, solidifying its status with a commanding 32% market share in total assets under management (AUM) across the region. Together with leading competitors like BlackRock, Fidelity, and Grayscale, CoinShares has firmly established itself within the upper echelon of digital asset managers.

The Future of European Crypto Investment

As Jean-Marie Mognetti, CEO of CoinShares, noted, "Europe's crypto ETN market is opening up, not slowing down." While the US pioneered the approval of spot ETFs, Europe initially took the lead with the introduction of regulated Bitcoin ETPs back in 2015. However, the fragmented regulatory landscape across different European countries has often impeded uniform adoption of crypto products. The recent policy shifts demonstrate that collaborative and cohesive regulatory frameworks are beginning to emerge, potentially paving the way for increased participation in the crypto market from retail investors across Europe.

CoinShares is primed to leverage these regulatory changes to build stronger relationships with retail investors, particularly through partnerships with leading financial institutions such as BoursoBank, France's largest online bank. The significant influx of European crypto ETN inflows, which reached a record €2.5 billion this year, underscores the increasing curiosity and participation among retail investors. With more than 14 million active retail investors in the UK and a significant participation rate in France, the potential for growth in this market remains vast.

Conclusion

As we witness the progressive dismantling of barriers for retail investors in the crypto space, the impact of these changes reverberates not only across France but also throughout Europe. With established leaders like CoinShares taking charge, the future of cryptocurrency investments looks promising, bringing unprecedented opportunities for individuals looking to diversify their portfolios in an increasingly digitized economy. This is just the beginning of a robust and growing market, reflecting an industry ready to embrace innovation and a new era of financial inclusion.