Danske Bank Opens Door to Bitcoin and Ethereum ETPs for Danish Customers
After maintaining a cautious stance on cryptocurrency for years, Danske Bank is now providing self-directed customers access to Bitcoin and Ether ETPs, pointing to increased client interest and more defined European Union regulations.
Denmark's largest banking institution, Danske Bank, which serves as a leading retail financial institution across Northern Europe with a customer base exceeding five million people, has begun enabling its clients to purchase Bitcoin and Ether exchange-traded products (ETPs) from financial giants BlackRock and WisdomTree through its eBanking and Mobile Banking digital platforms for the very first time.
The newly launched service, which was made public on Wednesday, is available exclusively to self-directed investors — those clients who execute trades through the bank's digital platform independently without seeking or receiving investment guidance — and has been explicitly positioned as the bank's answer to "increasing customer demand" and "improved regulation" following the implementation of the European Union's Markets in Crypto Assets (MiCA) regulatory framework.
According to the bank's announcement, customers will have the ability to purchase three "carefully selected" ETPs at launch, including two products that track Bitcoin (BTC) and one product that tracks Ethereum (ETH), all provided by BlackRock and WisdomTree and governed by Markets in Financial Instruments Directive II (MiFID) regulations concerning investor protection and cost transparency, which the financial institution maintains offer distinct advantages compared to direct cryptocurrency ownership, such as simplified trading processes and protected custody arrangements.
In a statement contained within the announcement, Kerstin Lysholm, who serves as head of investment products and offerings at Danske Bank, noted that as digital currencies have established themselves more prominently as a recognized asset class, the financial institution had been experiencing an "increasing number of enquiries from customers wanting the option of investing in cryptocurrencies as part of their investment portfolio."
Lysholm further explained that the regulatory environment had "generally increased confidence in cryptocurrencies" and brought the bank to the determination that "the time is ripe" to provide such investment products to those clients willing to acknowledge and accept the "very high risks" associated with these assets.
From platform ban to tightly controlled access
This strategic pivot follows an extended period of conservative positioning regarding digital assets. During 2018, Danske Bank publicly stated it held a negative view toward cryptocurrencies and prohibited the trading of these assets and associated financial instruments on its proprietary platforms, issuing warnings to customers about investing in them due to concerns around transparency, regulation, price volatility and financial crime risks.
By 2021, Danske revised its approach through a four-point policy statement, clarifying that while it would not provide any cryptocurrency-related services to its customer base directly, it would refrain from blocking or interfering with transactions originating from cryptocurrency platforms.
In her recent comments, Lysholm indicated that Danske continues to regard cryptocurrency as "opportunistic investments" as opposed to components suitable for long-term portfolio construction, and emphasized that providing access to ETPs "should not be seen as a recommendation of the asset class."
The official announcement specifies that investments in cryptocurrency "involve a very high risk" and carry the potential for substantial financial losses, and the bank is incorporating a suitability assessment into the customer journey. Prior to executing any trades, customers will be required to complete a questionnaire designed to verify they possess adequate experience and knowledge to comprehend the risks and unique characteristics associated with crypto ETPs.
Broader European trend
Additional European banking institutions are similarly moving cautiously into the regulated cryptocurrency product space.
Spain's BBVA, which holds the position as the country's second-largest bank, introduced Bitcoin and Ether trading and custody services for its entire retail customer base in Spain during 2025, following an earlier pilot program that offered comparable services to private banking clients located in Switzerland.
Meanwhile, Germany's Deutsche Bank is also purportedly in the process of preparing to introduce a cryptocurrency custody service during 2026 through a collaborative partnership with Bitpanda and Switzerland-based digital asset company Taurus.