Denmark’s largest bank launches Bitcoin, Ethereum ETP trading

Denmark’s largest lender, Danske Bank, has introduced investment services tied to Bitcoin and Ethereum exchange-traded products (ETPs), making them available to customers through its online and mobile banking platforms.

The decision marks the end of an eight-year internal ban on crypto-related services, News.Az reports, citing foreign media.

In a statement, the bank said the ETPs allow investors to gain exposure to Bitcoin and Ethereum in a straightforward way without the need to hold a digital wallet. By investing through ETPs, customers can avoid the operational complexities and security risks associated with storing cryptocurrencies directly.

Kerstin Lysholm, Head of Investment Products and Services at Danske Bank, said the move reflects rising client interest. She noted that the regulatory environment surrounding digital assets has improved in recent years, particularly following the European Union’s implementation of the Markets in Crypto-Assets Regulation (MiCA).

“As cryptocurrencies have become a more common asset class, we are receiving an increasing number of enquiries from customers wanting the option of investing in cryptocurrencies as part of their investment portfolio,” Lysholm said.

The bank’s new offering represents a shift from its earlier position. In 2018, Danske Bank declined to facilitate or support crypto trading on its platforms, stating in its annual report that it held a negative view of cryptocurrencies and strongly advised customers against investing in them. The bank reaffirmed its internal restrictions in 2021.

Despite now providing access to crypto-linked ETPs, Danske Bank continues to stress that it does not endorse cryptocurrencies as a traditional asset class. It categorizes them as speculative investments rather than long-term holdings and does not provide advisory services related to digital assets.

According to Lysholm, the products are available only to clients who pass an appropriateness test designed to ensure they understand the associated risks.

Separately, the bank has increased its indirect exposure to the crypto sector through equity investments. Danske Bank disclosed that it added 13,840 shares of Strategy (MSTR), bringing its total holdings in the company—formerly known as MicroStrategy—to 132,746 shares, valued at approximately $17.6 million.

Industry data indicates that cryptocurrency ownership in Denmark remains limited. Triple-A estimates that 70,605 people in Denmark owned crypto assets as of 2024, accounting for about 1.2% of the population. Meanwhile, Chainalysis’ Geography of Crypto 2025 report ranked Denmark 84th out of 151 countries in terms of crypto adoption, measured by on-chain value received by centralized and decentralized platforms.

News.Az 

By Nijat Babayev