Danske Bank, Denmark's largest financial institution, has formally reversed its eight-year prohibition on cryptocurrency exposure by introducing investment access to Bitcoin and Ethereum for its clients. The policy shift, effective from February 2026, allows customers to gain indirect exposure through regulated exchange-traded products (ETPs) available on both the Danske eBanking and Danske Mobile Banking platforms.
The bank is not offering direct spot trading or custody. Instead, it has selected three ETPs—two tracking Bitcoin and one tracking Ethereum—issued by major global asset managers including BlackRock and WisdomTree. These products are regulated under MiFID II rules, which aim to enhance transparency and investor protection. This model allows clients to participate in digital asset price movements without the need to manage private wallets, thereby reducing technical complexity and operational risks.
Eligibility is limited to customers already using the bank's self-directed trading platform, which offers access to over 15,000 securities. Before investing, customers must complete a suitability assessment to ensure they understand the risks. Danske Bank explicitly states it will not provide investment advice for these products and categorizes Bitcoin and Ethereum exposure as opportunistic and speculative, not suitable for core long-term portfolio allocation.
The decision marks a significant reversal from the bank's 2018 guidance, which advised customers to avoid cryptocurrencies altogether due to limited transparency and the absence of central bank backing. Kerstin Lysholm, Head of Investment Products & Offering at Danske Bank, cited growing client demand and a more mature regulatory environment as key factors.
The launch follows the implementation of the European Union's Markets in Crypto-Assets Regulation (MiCA), which the bank said has strengthened transparency and regulatory confidence across the sector. MiCA establishes standardized oversight for digital asset services within the EU, providing institutions with a clearer framework for participation.
Danske Bank is also participating in a broader European institutional trend. It is part of a consortium with ING and UniCredit working on the development of Qivalis, a MiCA-compliant euro-denominated stablecoin expected in the second half of 2026. The move aligns with actions by other major banks: Goldman Sachs holds over $2.3 billion in crypto-related assets, Société Générale has issued a MiCA-compliant stablecoin, Deutsche Bank plans a crypto custody platform for 2026, and HSBC is expanding its tokenized deposit service.
