Nordea, the largest financial institution in Scandinavia, announced on Thursday that it will begin offering customers access to a Bitcoin-linked exchange-traded product (ETP) starting in December.
The move represents a major policy reversal for the Nordic bank, which had previously banned employees from trading Bitcoin due to regulatory and risk concerns.
Developed in partnership with digital asset investment firm CoinShares, the ETP will be available as an “execution-only” product, meaning Nordea clients can purchase it without receiving investment advice.
Nordea currently manages over $286 billion in assets and serves more than 10 million customers across the Nordic region.
Regulatory Clarity Drives Policy Shift
Nordea cited clearer regulations and increased investor protections as key reasons for its change in stance.
Specifically, the European Union’s Markets in Crypto-Assets Regulation (MiCA) framework has played a major role in shaping the bank’s renewed openness to crypto investment products.
“Nordea has closely monitored trends in cryptocurrencies but maintained a cautious approach due to the unregulated nature of crypto-assets and the lack of investor protection and authority supervision that dominated the emergence of digital currencies,” the bank said.
“Against this background, Nordea remains open-minded to offering products and services to meet our customers’ needs as the environment matures.”
Rising Demand Across the Nordic Region
Alongside regulatory advances, growing demand for crypto investment products has accelerated across Northern Europe.
According to Nordea, both retail and institutional investors are increasingly seeking exposure to digital assets through established, regulated financial markets.
Research from digital asset firm K33 shows that crypto ownership in Denmark, Sweden, Norway, and Finland has climbed to 2.1 million people—up from 1.5 million last year.
Around 28% of respondents in K33’s March survey said they plan to invest in crypto within the next decade, potentially lifting the total number of owners to 6.4 million by 2035.
Institutional Entry Marks Next Stage of Adoption
Nordea’s new Bitcoin ETP highlights a broader shift among traditional banks toward digital asset integration as the regulatory landscape matures.
By allowing limited exposure through a structured, regulated product, Nordea aims to balance innovation with investor protection—an approach that may soon be mirrored by other major European banks.
