Danske Bank adds three regulated Bitcoin and Ether ETPs to its trading platforms

Danske Bank has begun offering a narrow set of cryptocurrency exchange‑traded products (ETPs) on its digital trading channels, marking a cautious but visible shift for the traditionally conservative lender. The initial offering comprises three ETPs — two tracking Bitcoin and one tracking Ether — provided by established asset managers BlackRock and WisdomTree and accessible through the bank’s eBanking and Mobile Banking interfaces. Access is limited to customers who trade without advisory services; an onboarding flow includes a suitability questionnaire to assess investor experience and risk tolerance and to apply MiFID-style protections. By distributing third‑party ETP wrappers rather than native tokens, Danske transfers custody and settlement responsibilities to regulated issuers and custodians, avoiding direct private‑key custody on its balance sheet. That distribution model aligns with moves by peers such as ING, which has embedded exchange‑traded crypto products into standard securities accounts, and contrasts with banks like KBC that are pursuing internal custody stacks and national MiCA notifications. The timing reflects growing regulatory scaffolding in the EU — MiCA and related national implementing rules are creating pathways for banks to offer token exposure without assuming full crypto custody risk — but it also exposes frictions around cross‑border passporting and supervisor registries. Operationally, the initiative raises practical questions about order routing, reconciliation between bank records and ETP issuers, custody counterparties, and front‑end disclosures that will shape customer experience and execution quality. From a commercial perspective, distribution through a major Nordic retail channel could accelerate inflows into regulated crypto wrappers if retail demand materializes, while preserving familiar securities‑style reporting, settlement and tax treatment for clients. The bank frames the step as incremental — a way to meet client interest under enhanced regulatory guardrails rather than a strategic pivot into native crypto services — and signals how incumbents may balance product access with compliance and reputational risk. Supervisors are likely to scrutinize suitability processes, disclosures and operational resilience as more legacy institutions embed token‑linked products into mainstream offerings. Depending on uptake and regulatory feedback, Danske could expand product lines or deepen integration with wealth services, but the initial rollout is deliberately narrow and controlled.