Danske Bank Opens Bitcoin and Ether ETPs to Customers
Danske Bank, the largest bank in Denmark and with more than five million customers in Northern Europe, enables its customers to buy Bitcoin and Ether exchange-traded products (ETPs) from BlackRock and WisdomTree through its e-banking and mobile banking platforms for the first time.
The new offer, announced on Wednesday, is open only to self-directed investors – clients who trade on the bank's platform without receiving investment advice – and is clearly designed in response to “increased client demand” and “enhanced regulation” in the EU's Crypto Assets (MiCA) markets.
The bank said its clients will initially be able to buy three “carefully selected” ETPs, two tracking bitcoin (BTC) and one tracking ether (ETH), offered by BlackRock and Wisdomtree and covered by the Markets in Financial Instruments Directive II (MiFID) investor protection and cost transparency rules, which the bank says offer clear advantages over holding coins directly. Safe.
Kirsten Lischolm, head of investment products and offerings at Danske Bank, said in a press release that as cryptocurrencies become more common as an asset class, the bank is “increasingly seeing clients looking for an option to invest in cryptocurrencies in their investment portfolios.”
She added that the regulation “generally increased confidence in cryptocurrencies” and led the bank to conclude that “the time has come” to offer such products to customers who accept “very high risks”.
Related: UBS scales crypto trade for private banking clients: Report
From platform ban to strictly controlled access
The change comes after years of caution for digital assets. In the year In 2018, Danske Bank said it was negative about cryptocurrencies and banned trading in them and related instruments on its own platforms, warning clients against investing due to risks of transparency, regulation, volatility and financial crime.
In the year In 2021, Danske has updated its policy with a four-point notice stating that it will not provide any crypto services to its customers, but will not interfere with transactions from crypto platforms.
Lysholm said Danske still views crypto as “occasional investments” rather than as part of a long-term portfolio strategy, and access to ETPs “should not be viewed as an asset class recommendation.”
The release notes that cryptocurrency investments “involve a very high risk” and can lead to large losses, and is building towards proof of the suitability of the flow. Before trading, clients should answer questions to ensure they have sufficient experience and knowledge to understand the risks and characteristics of crypto ETPs.
A broad European trend
Other European lenders are also getting into regulated crypto offerings.
BBVA, Spain's second largest bank, has launched Bitcoin and Ether trading and custody for all retail clients in Spain by 2025, after testing similar services for private banking clients in Switzerland.
It has also been reported that Germany's Deutsche Bank has partnered with Bitpanda and Swiss digital asset company Taurus to provide crypto custody services in 2026.
Magazine: How crypto rules have changed in 2025 — and how they will change in 2026
