Danske Bank Offers Bitcoin and Ethereum ETP Access but Stops Short of Endorsing Crypto
Denmark’s largest lender, Danske Bank, will allow customers to invest in Bitcoin and Ethereum through exchange-traded products (ETPs), while maintaining a cautious stance toward cryptocurrencies as an asset class.
In a press release, the bank said users of its Danske eBanking and Danske Mobile Banking platforms can gain exposure to the two digital assets through regulated ETPs, without directly holding the cryptocurrencies themselves.
The move comes in response to rising customer interest, particularly from self-directed investors who trade without receiving advisory services. Kerstin Lysholm, head of Investment Products & Offering at Danske Bank, said enquiries about crypto investments have increased as digital assets become more widely recognized in financial markets.
Shift From Earlier Opposition
Danske Bank had previously taken a strict position against cryptocurrencies, refusing to support crypto trading in 2018 and warning customers to avoid the sector. That cautious stance remained in place as recently as 2021.
Lysholm said improved regulation — including the European Union’s Markets in Crypto-Assets (MiCA) framework — has helped create a more structured and transparent market environment. According to the bank, this has made it possible to offer selected crypto-linked investment products to customers who understand the risks involved.
Still, the lender emphasized that making ETPs available should not be seen as an endorsement of cryptocurrencies. The bank does not provide investment advice on crypto and continues to describe the assets as high-risk, opportunistic investments rather than long-term portfolio holdings.
Focus on Regulated Access
Danske Bank said the products will only be available to customers who pass an “appropriateness test,” designed to ensure they understand the volatility and risks tied to digital assets. The bank added that offering regulated ETPs allows clients to gain exposure in a safer and more transparent way while maintaining its overall cautious approach.
Industry data suggests crypto adoption in Denmark remains relatively modest. Estimates indicate around 70,000 residents held cryptocurrency in 2024, while global research firm Chainalysis ranked the country in the lower half of global adoption levels.
Featured image from: x.com