CoinShares Brings Five Cryptocurrency ETPs to French Retail Investors via Bourse Direct

CoinShares (CSHR) listed five physically-backed cryptocurrency exchange-traded products on French retail brokerage Bourse Direct on May 4, opening regulated cryptocurrency exposure to a new pool of French retail investors. The products cover Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Toncoin (TON).

The listing represents the first time Bourse Direct clients have had direct brokerage access to physically-backed crypto ETPs without using a specialist platform.

What the Products Cover

CoinShares published the details in a GlobeNewswire release on May 4. The five ETPs are physically backed, meaning each unit represents actual cryptocurrency held in custody rather than a derivative position.

A physically-backed ETP, a product type that holds the underlying asset directly, gives retail buyers exposure without requiring a cryptocurrency wallet or exchange account. Bourse Direct serves more than 300,000 active clients across France, according to the company.

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Background

France operates under the European Union’s Markets in Crypto-Assets framework, known as MiCA, which came into full force in January 2025.

MiCA creates a passportable license for cryptocurrency asset service providers, allowing approved products to be sold across EU member states without separate national approvals. CoinShares received its registration under prior French AMF rules and has been expanding distribution as MiCA enables broader access.

The firm manages approximately $10 billion in assets under management and is listed on the Nasdaq Stockholm exchange. It has been a consistent issuer of crypto ETPs in European markets since 2015.

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What This Means for European Retail Access

The Bourse Direct listing follows a broader pattern of traditional retail brokerages across Europe adding cryptocurrency ETP access in 2026.

Germany’s largest retail brokers added similar products in late 2025. The French market has lagged slightly because of tighter pre-MiCA AMF restrictions.

CoinShares’ entry through Bourse Direct, one of France’s top five online brokers by client count, accelerates that catch-up. Investors can now hold BTC, Ethereum (ETH), Solana (SOL), XRP (XRP), and Toncoin (TON) ETPs in standard brokerage accounts alongside equities and bonds.

Tax treatment mirrors standard ETP rules under French law.

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