Bitcoin gains access as Danske Bank opens ETPs per MiFID II

Danske Bank enables self-directed clients to buy Bitcoin and Ethereum ETPs

Denmark’s Danske Bank is allowing clients to invest in exchange-traded products that track Bitcoin and Ethereum, while maintaining a cautious stance on the asset class, as reported by Yahoo Finance. The publication notes the lender is offering access but “is refusing to recommend” the products, underscoring that availability does not constitute investment advice.

According to Decrypt, access is being rolled out inside Danske eBanking and Danske Mobile Banking for customers who invest on their own and successfully complete an appropriateness test that assesses their understanding of crypto ETP risks. The offering focuses on Bitcoin and Ethereum trackers rather than direct holdings of the underlying assets.

Why this matters: MiCA regulation, MiFID II, investor protections

The move sits within the European regulatory framework for digital assets and retail distribution. According to Danske Bank press materials, the ETPs are made available under MiFID II investor-protection rules via reputable providers, with transparency on costs and risks and without requiring customers to operate their own crypto wallets.

Before the decision was announced, the bank framed demand and regulation as key drivers; editorially, this reflects a shift from blanket caution to controlled access under EU rules. “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,” said Kerstin Lysholm, Head of Investment Products and Offering at Danske Bank.

Coverage has characterized the step as a notable signal of changing institutional attitudes, provided guardrails remain strong, as per BitcoinWorld. In practice, the framework links customer choice with regulatory checks, aiming to balance access and risk awareness.

Immediate impact: eBanking and Mobile access; appropriateness test required

For eligible users, Bitcoin- and Ethereum-tracking ETPs now appear alongside other exchange-traded instruments within Danske’s digital channels, consistent with Decrypt’s description of access through eBanking and Mobile. Trading is limited to a curated selection of products, and availability requires passing the appropriateness test first.

The bank’s stance remains that this is access without recommendation, as reported by Yahoo Finance, and that participation is for self-directed clients only. That design keeps advisory and discretionary mandates out of scope and ties eligibility to risk comprehension rather than a marketing push.

At the time of this writing, Bitcoin (BTC) traded around $67,895, with recent volatility of about 11.15% and sentiment described as bearish. Short-term technicals in the provided dataset indicated an RSI near 34 and moving averages (50- and 200-day) above spot, which broadly aligns with a cautious, risk-aware framing for any crypto-linked exposure.

How to access and eligibility: self-directed, appropriateness test only

Clients using Danske eBanking or Danske Mobile Banking who invest on a self-directed basis can locate the bank’s selected Bitcoin and Ethereum ETPs and request trading access by completing the appropriateness test. Access is not offered through advisory or managed portfolios, and the scope is limited to a narrow set of trackers.

Once eligible, customers can trade the ETPs under MiFID II investor-protection rules as communicated by the bank, without the need to set up or manage a separate crypto wallet. The model prioritizes transparency on risks and costs while keeping exposure constrained to regulated exchange-traded products rather than direct crypto holdings.