Danske Bank has introduced exchange traded products tracking Bitcoin and Ethereum on its trading platform, marking the first time its customers can gain exposure to cryptocurrencies. The Danish bank is offering three ETPs from BlackRock and WisdomTree through its mobile and online banking platforms. The products are available only to customers who trade without receiving investment advice from the bank.
Customers must complete a suitability assessment demonstrating sufficient experience and knowledge before accessing the ETPs, which are covered by MiFID II regulations. Danske Bank emphasized it does not provide advisory services for cryptocurrency products and does not view them as part of a long term portfolio strategy. The bank highlighted the high risks associated with the asset class while positioning the ETPs as a response to customer demand.
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