Bank That Once Shunned Crypto is Planning a New Bitcoin ETP

Bitcoin has gained another big supporter as Nordea, the largest bank in the Nordic region plans to allow customers access to a Bitcoin-linked ￰0￱ product is expected to launch in December and represents a major change for a bank that once refused to deal with crypto at ￰1￱ spent years keeping its distance from digital ￰2￱ in 2018, it banned employees from buying or holding Bitcoin and said that the market was unregulated and ￰3￱ Nordea Pivot Things now appear to have ￰4￱ are nowstronger rules and clearer supervision, not to mention growing customer demand, that have convinced the bank to move ￰5￱ new Bitcoin ETP is developed by CoinShares and it tracks the price of Bitcoin but doesn’t require users to own the actual cryptocurrency.

Instead, investors gain exposure to Bitcoin’s price through a familiar financial instrument available directly on Nordea’s ￰6￱ Offering Will Be “Execution-Only” Nordea has been careful to define the product’s ￰7￱ calls the Bitcoin ETP an “execution-only offering.” That means customers can buy and sell the product through Nordea’s channels. However, the bank won’t provide investment advice or ￰8￱ separation lets the bank meet demand without taking on advisory responsibility for an asset that still carries ￰9￱ also shows how traditional financial institutions are easing into ￰10￱ providing access but not direct ￰11￱ said the product is designed for experienced investors who want alternative asset ￰12￱ offering gives them a way to track Bitcoin’s price movements while staying in a regulated ￰13￱ Nordea Changed Its Mind on Bitcoin The change didn’t happen overnight.

Nordea’s leadership cited its two main reasons as new regulations and rising ￰14￱ European Union’s Markets in Crypto-Assets Regulation (or MiCA ) came into effect in ￰15￱ framework introduced rules for digital assets across the ￰16￱ gave banks and investors more confidence by setting clear standards for licensing, investor protection and ￰17￱ Nordea, MiCA’s introduction marked a turning ￰18￱ bank said it has “closely monitored crypto trends” but had been careful because of the lack of supervision in earlier ￰19￱ that regulation has matured, it feels safer offering crypto-related products to ￰20￱ Demand for Bitcoin Is Rising Across the Nordics Regulation wasn’t the only reason for Nordea’s ￰21￱ in crypto investing across the Nordic region has grown as well.

A March survey by K33 estimated that around 2.1 million people in Denmark, Norway, Sweden and Finland own some form of ￰22￱ of people in the Nordic region currently hold crypto |