Summary
- Danske Bank in Denmark is now allowing its Danske eBanking and Danske Mobile Banking users to invest in Bitcoin and Ethereum exchange-traded products (ETPs).
- This shift towards crypto offerings marks a notable change for the bank, which had previously ruled out any cryptocurrency services.
- Despite recognizing the maturation of the cryptocurrency market, the bank emphasizes that it does not endorse cryptocurrencies as a legitimate asset class.
Danske Bank is allowing clients to invest in Bitcoin and Ethereum ETPs, but they do not recommend cryptocurrencies as an investment option.
As noted in a press release, users of Danske’s banking platforms can have exposure to Bitcoin and Ethereum via ETPs without owning the cryptocurrencies themselves.
The move is a response to increasing customer interest and targets those using the trading platform without investment advice.
Kerstin Lysholm, Head of Investment Products at Danske Bank, indicated that the rising inquiries from customers about cryptocurrency investments have prompted the change.
While Danske is introducing these options, it maintains a cautious approach, viewing cryptocurrencies as “opportunistic investments” rather than suitable for long-term investment.
In their press release, the bank clarifies that access to cryptocurrency ETPs isn’t a recommendation of the asset class.
