Nordea Shifts Stance on Bitcoin
Once among its biggest critics, Nordea is now changing its mind. The largest Scandinavian bank announced that starting in December, it will allow clients to buy an investment product linked to bitcoin (ETP). The product was developed by CoinShares, a company specializing in digital assets.
From ban to crypto offering
In 2018, Nordea even banned its employees from holding or trading bitcoin, claiming the crypto market was too risky and unregulated. Today, the bank admits the situation has changed significantly.
“In recent years, cryptocurrencies have become more regulated and the market has matured,” Nordea said, referencing the EU’s MiCA regulation, which provides clearer rules for trading digital assets across Europe.
Bitcoin yes, but without advice
The new product will be offered on an execution-only basis, meaning clients can buy it if they wish, but the bank will not provide investment advice.
The ETP’s underlying asset is bitcoin itself, meaning its value will follow the cryptocurrency’s market price.
Northern investors embrace crypto
Nordea’s move reflects not only improved regulation but also growing investor interest. According to a March survey by K33, over 2.1 million residents of Nordic countries – Denmark, Norway, Sweden, and Finland – now own cryptocurrencies, an increase of 600,000 compared to the previous year.
Nearly 30% of people in the region plan to buy crypto within the next decade. If that trend continues, around 6.4 million Nordic residents could own digital assets by 2035.
With more than 286 billion dollars under management and over 10 million clients, Nordea’s decision could influence other traditional banks that have so far avoided the crypto market.
Sources:
https://www.nordea.com/en/press/2025-07-17/half-year-results-2025
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