De Nederlandsche Bank statistics show Dutch indirect crypto investments rising to EUR 1.2 billion by October 2025

De Nederlandsche Bank (DNB) published new statistics showing that Dutch companies, institutions and households have sharply increased their indirect exposure to crypto through listed securities, with holdings rising from around EUR 81 million at end-2020 to EUR 1.2 billion by end-October 2025. Despite the growth, these positions remain small relative to the Netherlands’ total securities holdings at 0.03%. The figures cover three types of crypto securities: exchange traded funds (ETFs), exchange traded notes (ETNs) and crypto treasury shares. Households held the largest share of crypto ETFs and ETNs (EUR 182 million and EUR 213 million respectively), while pension funds held the largest share of crypto treasury shares (EUR 287 million), ahead of households (EUR 243 million). DNB attributes most of the increase to changes in underlying crypto-asset prices rather than net buying, noting that about EUR 45 million more crypto securities were sold than purchased over the past five years, and that seven securities account for 70% of Dutch indirect crypto holdings, all issued by foreign institutions. Separately, DNB reports that the Dutch financial sector held EUR 113 million of crypto-assets directly at end-third quarter 2025, concentrated in investment funds (EUR 76 million), other financial intermediaries (EUR 25 million) and financial auxiliaries (EUR 12 million), with banks, pension funds and insurers not active in this market.