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

Nordea announced in 2018 that it would ban employees from buying and holding Bitcoin due to concerns that the crypto market was unregulated.

Scandinavia’s largest bank, Nordea, has shifted its stance on crypto in the face of growing adoption and regulatory clarity, announcing its customers can access an external Bitcoin-linked exchange-traded product (ETP) in December. 

The Bitcoin ETP, developed by digital asset investment firm CoinShares, holds Bitcoin (BTC) as its underlying asset, Nordea stated on Thursday. 

The ETP will only be offered as an “execution-only offering, meaning that customers can buy this product, but Nordea does not offer advice on it,” the bank added.

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