This is the Danish variant of Regin Smiður, a folk song made popular by Tyr:
Grane bar guld af hede,
Grane bar guld af hede,
Sigurd svinger sværdet i vrede.
Sigurd over ormen vandt,
Grane bar guldet af heden.
Grane carried the gold from the heath, Sigurd swings the sword in anger...
The legend says he came from the Low Lands!
You can read the whole text of the song and the translation (in comments) if you watch the video on YouTube.
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