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Danske Bank, Denmark’s largest lender, has listed Bitcoin and Ethereum exchange-traded products (ETPs) for retail customers, reversing an eight-year internal stance against offering crypto-related services.
Announced on February 11, the move allows users of Danske eBanking and Danske Mobile Banking to gain regulated exposure to digital assets without directly holding cryptocurrency, though the bank was explicit that it is not endorsing crypto as a recommended asset class.
The introduction of crypto-linked products represents a reversal of the bank’s earlier position. In a 2018 report, Danske Bank stated:
“Overall, we are negative towards cryptocurrencies and we strongly recommend that our customers avoid investing in cryptocurrencies,” reaffirming its internal ban in 2021.
However, the landscape has shifted. Kerstin Lysholm, Head of Investment Products & Offering at Danske Bank, said customer interest played a central role in the decision to update the Danske Bank trading platform.
“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,” — Kerstin Lysholm, Head of Investment Products & Offering, Danske Bank.
Lysholm added that regulatory developments, particularly the European Union’s Markets in Crypto-Assets (MiCA) Regulation, have contributed to increased confidence in the sector. According to her, the cryptocurrency market has become “better regulated” in recent years, prompting the bank to reconsider its approach.
She stated that “on balance,” the bank concluded that “the time is ripe for making cryptocurrency investment products available to the customers who want to invest in the asset class and who accept the very high risks involved in cryptocurrency-related investments.”
Despite adding crypto ETPs, the bank has emphasized that the Danske Bank trading platform is not endorsing cryptocurrencies as a recommended investment category. Instead, it frames the products as regulated instruments designed for informed investors who understand volatility risks.
In its official communication, the bank clarified that it does not offer advisory services for cryptocurrencies, describing them as “opportunistic investments” rather than suitable for long-term portfolio strategies.
“Kerstin Lysholm therefore also emphasises that access to selected cryptocurrency ETPs on Danske Bank’s trading platform should not be seen as a recommendation of the asset class from Danske Bank,” the press release stated.
Lysholm further explained the bank’s position in comments to Decrypt: “We are not moving away from our previous cautious approach but are now offering regulated products that make it possible to invest in cryptocurrencies in a safer and more transparent manner,” — Kerstin Lysholm, Head of Investment Products & Offering, Danske Bank.
Customers seeking access through the Danske Bank trading platform must pass an “appropriateness test” to confirm they understand the risks associated with crypto-related investments. Lysholm noted, “It is ultimately the customers’ own choice to invest, and we make it clear that these are opportunistic investments with high volatility.”
The decision to update the Danske Bank trading platform comes as digital assets gain broader institutional legitimacy across Europe. The MiCA framework has introduced standardized regulatory requirements across EU member states, aiming to enhance transparency and investor protection.
According to data from Triple-A, Denmark had 70,605 cryptocurrency owners as of 2024, representing roughly 1.2% of the population. Meanwhile, Chainalysis’ Geography of Crypto 2025 report ranked Denmark 84th out of 151 countries for cryptocurrency adoption, measured by on-chain value received by centralized and decentralized platforms.
By limiting access to ETPs rather than direct cryptocurrency custody, the Danske Bank trading platform provides exposure through regulated financial instruments listed on traditional exchanges. This structure allows investors to gain price-linked exposure to Bitcoin and Ethereum without managing private keys or digital wallets.
