Nordic bank that once shunned crypto to soon offer a Bitcoin ETP

Nordea, Scandinavia's largest bank with over $286 billion in assets, is reversing its previous stance against cryptocurrencies and will soon allow customers to access a Bitcoin-linked Exchange Traded Product (ETP) starting in December. This ETP, developed by CoinShares, will use Bitcoin (BTC) as its underlying asset and will be offered as an "execution-only offering," meaning Nordea will not provide investment advice. The bank's shift is attributed to growing regulatory clarity, specifically citing the European Markets in Crypto-Assets Regulation (MiCA), and increasing customer demand for digital asset exposure across the Nordic regions. Nordea had previously banned employees from holding Bitcoin in 2018 due to concerns over the unregulated nature of the crypto market.

(Source：Cointelegraph)