Dutch oblique crypto investments have surged to document ranges, buoyed by households, pension funds, and a small variety of high-profile securities, in line with new knowledge from the Netherlands’ central financial institution.
The Dutch central financial institution stated complete oblique crypto securities holdings in all sectors reached about $1.4 billion by October, an uptick from simply $94 million in 2020. Regardless of the expansion, the financial institution reiterated that oblique crypto investments account for less than 0.03% of the Netherlands’ complete securities holdings.
The evaluation centered on three classes of devices: exchange-traded funds, exchange-traded notes, and so-called crypto treasury shares. ETFs and ETNs observe the worth of crypto-assets, whereas treasury shares characterize fairness in corporations that maintain crypto-assets on their stability sheets.
Dutch family and pension funds purchase DAT shares
The central financial institution’s report examined solely investments in securities linked to crypto-assets, not direct possession of tokens. It additionally defined that the rise over the previous 5 years got here from the uptrend in valuations of the underlying belongings.
Bitcoin’s worth rose by 72% over the five-year interval lined by the evaluation, earlier than falling to a year-on-year low in direction of the top of 2025. That volatility inflated the worth of current holdings, at the same time as issuance of latest crypto securities additionally elevated, the financial institution stated.
By the top of October 2025, Dutch households held about €182 million in crypto ETFs and €213 million in ETNs. Funding funds additionally had notable publicity to crypto ETFs, holding round €40 million price.
Pension funds acquired €287 million in such shares to turn into the one largest institutional group in that class. Households additionally held €243 million in digital asset treasury firm shares.
Dutch crypto treasuries present funding alternatives for households
Though the variety of crypto-linked securities accessible to Dutch traders has grown in recent times, simply seven particular securities account for about 70% of all oblique crypto holdings within the Netherlands.
Final yr, Dutch crypto agency Amdax raised €30 million, or about $35 million, to launch the Amsterdam Bitcoin Treasury Technique, referred to as AMBTS. AMBTS is a Bitcoin treasury firm with ambitions to build up as much as 1% of the overall Bitcoin provide. The agency has stated it plans to make use of capital markets to steadily improve Bitcoin per share, with a long-term valuation goal of round $26 billion at present costs.
One other DAT is Treasury BV, which raised $147 million in a non-public funding spherical led by Winklevoss Capital and Nakamoto Holdings final September. The funding allowed the corporate to accumulate greater than 1,000 Bitcoins in pursuit of changing into the biggest publicly traded European bitcoin treasury, Cryptopolitan reported.
The corporate, led by chief govt Khing Oei, entered right into a binding settlement with funding agency MKB Nedsense NV to execute a reverse itemizing on Euronext Amsterdam. As a part of the transaction, MKB Nedsense transferred all its belongings and liabilities to its largest shareholder, Value8 NV, earlier than issuing new shares to the treasury’s traders.
December inflation slumps to 2.8%
The enlargement of oblique crypto holdings has taken place in opposition to an financial backdrop of easing inflation pressures within the Netherlands. Statistics Netherlands reported that client items and companies had been 2.8% costlier final December than a yr earlier. That compares with a year-on-year inflation fee of two.9% in November.
The December inflation determine matched a flash estimate revealed earlier in January. Month-on-month, client costs had been just about unchanged in December in contrast with November, in line with the information.
Petrol costs ended the yr 2.4% decrease general, however rose by 5.6 cents on January 1 after tax aid launched following Russia’s 2022 invasion of Ukraine was partially withdrawn. Diesel costs additionally elevated, climbing by 3.6 cents as the federal government subsidies had been rolled again.
With December figures accessible, Statistics Netherlands calculated common inflation for 2025 at 3.3%, that means client costs had been, on common, 3.3% greater than in 2024. The information had been primarily based on the patron worth index, which tracks each year-on-year and month-on-month worth adjustments.
Utilizing the harmonized index of client costs, inflation within the Netherlands stood at 2.5% year-on-year in December, down barely from 2.6% in November. Within the euro space, inflation eased from 2.1% in November to 2.0% in December.
