Scandinavia’s largest bank, Nordea, is officially embracing Bitcoin exposure for its clients, just seven years after banning employees from owning the cryptocurrency.
Nordea to Offer Bitcoin ETP via CoinShares
Nordea announced that its customers will soon be able to access a Bitcoin-linked exchange-traded product (ETP) starting in December 2025.
The ETP, developed by CoinShares, will be backed by physical Bitcoin (BTC), allowing investors to gain regulated exposure to the asset without directly holding it.
However, Nordea clarified that the product will be offered on an “execution-only” basis, meaning the bank will not provide investment advice regarding Bitcoin or any related digital assets.
With $286 billion in assets under management and over 10 million customers, Nordea’s entry into crypto marks a significant step for institutional Bitcoin accessibility in the Nordic region.
A Dramatic Turn from 2018’s Bitcoin Ban
In a major policy reversal, Nordea has shifted away from its previously strict anti-crypto stance.
Back in 2018, the bank banned employees from buying or holding Bitcoin, citing a lack of regulation and high market risks.
K33 also found that 28% of Nordic respondents plan to invest in crypto by 2035, potentially boosting adoption to 6.4 million people within a decade.
Now, Nordea attributes its change of heart to regulatory progress and a maturing digital asset market.
The European Markets in Crypto-Assets Regulation (MiCA), which introduces clear legal frameworks for crypto custody, trading, and issuance, was cited as a key enabler of the bank’s decision.
“Nordea has closely monitored trends in cryptocurrencies but maintained a cautious approach due to the unregulated nature of crypto-assets,” the bank stated.
“Against this background, Nordea remains open-minded to offering products and services to meet our customers’ needs as the environment matures.”
Rising Nordic Demand for Crypto Exposure
In addition to regulation, customer demand is driving Nordea’s pivot.
According to a K33 Research survey, 2.1 million people across the Nordic region — including Denmark, Norway, Sweden, and Finland — now own cryptocurrency, up from 1.5 million in 2024.
Nordea’s offering follows similar moves by European institutions expanding regulated access to digital assets through ETPs, reflecting a broader trend of mainstream crypto adoption across Europe.
A New Chapter for European Banking and Bitcoin
Nordea’s upcoming Bitcoin ETP aligns with a growing wave of crypto integration among traditional financial institutions, alongside banks like Deutsche Bank, BNP Paribas, and Santander, which have recently introduced or partnered on digital asset custody and trading solutions.
For Nordea, this shift represents a strategic acknowledgment of Bitcoin’s legitimacy within a regulated framework — and a recognition that the demand for safe, compliant crypto exposure is no longer ignorable.
The same bank that once shunned Bitcoin will soon help millions of customers invest in it — a sign of how far crypto has come in Europe’s financial landscape.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.