Nordea is now making CoinShares crypto ETPs available to retail customers, giving the bank’s clients regulated exposure to digital assets through the investment platform they already use
With this move, crypto‑skeptical Nordic banks such as Nordea and Danske Bank have opened up to regulated crypto products, following growing demand from their own customers. DNB has also made ETP products more visible on its websites.
CoinShares is an asset manager specializing in digital assets, with listed products that allow investing in the crypto market via traditional financial channels. The fact that the company's crypto ETPs can now be traded through Nordea means that a large group of Nordic savers will have easier access to regulated products related to digital assets.
According to a CoinShares press release, the partnership with Nordea marks a further expansion of access to regulated crypto ETPs for retail investors in Europe. In the Nordic countries, CoinShares can also be found on the Avanza, Nordnet, Montrose and Savr platforms.
CoinShares states that exchange-traded products linked to digital assets are now available to Nordea's retail customers. With millions of retail customers in Sweden, Finland, Norway and Denmark, the bank has chosen CoinShare's ETP platform to enable customers to invest in regulated digital assets. The platform includes a Bitcoin product launched on Nasdaq Stockholm in 2015.
The opening of the products to trading on Nordea's platform is described as a milestone in the development of regulated digital asset trading in Europe.
The press release puts the Coinshares deal into a major development in which European banks are increasingly including crypto ETPs in their retail offerings, driven by more clarified regulation through the EU's Markets in Crypto‑Assets (MiCA) regulatory framework and continued demand from institutional players.
Nordea is referred to as part of a growing group of banks that provide customers with access to regulated digital investment products, which is interpreted as a sign that the market for digital assets is maturing.
Jean‑Marie Mognetti, CEO and co-founder of CoinShares, points out that the company launched its first Bitcoin ETP in Sweden ten years ago with the ambition to make regulated and transparent exposure to digital assets available through established financial institutions.
He highlights Nordea's decision to offer CoinShares products as confirmation of the infrastructure the company has built up over time. Mognetti also says that CoinShares wants to support Nordea's customers as they consider allocating towards digital assets via well-known and trust-based channels.
CoinShares offers listed products backed by underlying digital assets, listed on Nasdaq Stockholm and available on several European marketplaces.
According to the press release, CoinShares has about $8 billion under management and a 34 percent market share in the European market for digital asset ETPs. The company is described as a leading provider of institutional products for investments in digital assets in the region.
The fact that CoinShare crypto ETPs are now distributed through Nordea's systems is highlighted as an example of how the company is expanding access to digital investment products through European banking infrastructure. The collaboration makes regulated exposure to digital assets available to a large number of retail investors via platforms they already use for saving and investing.