Danish lender Danske Bank offers customers the opportunity to invest in Bitcoin and Ethereum exchange-traded products, but declines to recommend them. cryptocurrency As an asset class.
According to a press release, users of the company’s Danske eBanking and Danske Mobile Banking services can: Bitcoin and Ethereum Through the corresponding ETP without the need to hold the cryptocurrency itself.
Denmark’s largest bank said it was rolling out such options in response to growing customer demand, targeting customers who use trading platforms without receiving investment advice.
“As cryptocurrencies become a more popular asset class, we are increasingly receiving inquiries from customers seeking the option of investing in cryptocurrencies as part of their investment portfolio,” said Kerstin Risholm, Head of Investment Products and Offerings at Danske Bank.
Danske Bank has previously taken an intolerant stance towards cryptocurrencies, flatly refusing to offer or support any type of crypto trading through its platform in 2018. “Overall, we are negative about cryptocurrencies and strongly recommend that our customers avoid investing in cryptocurrencies,” the bank said in a 2018 report, and reiterated its internal ban on cryptocurrencies in 2021.
Rysholm noted that the cryptocurrency market has become “more regulated” in recent years, particularly as a result of the EU’s crypto asset market regulation, leading to increased confidence in digital assets.
He said the bank had concluded on a “balanced basis” that “the time has come to make crypto investment products available to customers who wish to invest in the asset class and who accept the very high risks associated with crypto-related investments.”
However, while Dansk is offering customers the opportunity to purchase Bitcoin and Ethereum ETPs, it has also made it clear that it still does not support cryptocurrencies as an investment option.
In fact, the company ended its press release by declaring that it does not provide advisory services for cryptocurrencies, as it views cryptocurrencies as “opportunistic investments” rather than for long-term investors.
The last sentence reads: “Kerstin Risholm therefore also emphasizes that access to selected cryptocurrencies ETPs on Danske Bank’s trading platform should not be considered as a recommendation of the asset class from Danske Bank.”
Danske Bank and virtual currency
Despite these warnings, Rysholm himself is adamant that significant progress has been made in regulating the crypto sector.
she said decryption This has “created a more mature market with enhanced investor protection, transparency and market integrity,” it said, adding that such developments have enabled banks to offer “a carefully selected regulated investment product offering customers a more convenient and regulated way to gain exposure to cryptocurrencies.”
Rysholm also said that decryption Dansk sees cryptocurrencies as a “natural step” in its continued efforts to cater to different types of investors in evolving markets and economies.
“While we do not intend to move away from our previous cautious approach, we now offer a regulated product that allows investing in cryptocurrencies in a safer and more transparent manner,” she added.
Rysholm noted that Danske only offers products to customers who have passed a “suitability test” that ensures they understand the risks involved.
She explained: “Ultimately it is the customers themselves who choose their investments and we are clear that these are opportunistic investments with high volatility.”
According to data collected by Triple-A, there will be 70,605 crypto holders in Denmark as of 2024, representing approximately 1.2% of the total population.
Meanwhile, Chainalysis’ Geography of Crypto 2025 report ranks Denmark 84th out of 151 countries in crypto adoption, as measured by the information firm in terms of on-chain value received by centralized and decentralized platforms.
