Preheat your oven to 350°F/175°C and grease a 9-inch bundt pan with butter or margarine.

In a large bowl, beat the sugar and eggs together, adding one egg at a time. Add the softened butter and use an electric mixer to whip everything for about 3 minutes, until the mixture is light and creamy.

In a separate bowl, stir the baking powder into the flour.

Soak the pistachios and hazelnuts in water for about a minute, then drain and toss them into the flour mixture (set aside about 2 tablespoons of pistachios for garnish). Coating the nuts in flour helps keep them from sinking to the bottom of the cake.

Gently fold the flour and nut mixture into the batter, stirring until just fully combined.

Pour the batter into the prepared bundt pan and bake for about 40 minutes, or until a toothpick inserted into the center comes out clean.

Let the cake cool completely before glazing.

To make the glaze, whisk the pistachio instant pudding mix with 1½ cups of milk in a small bowl. Once it’s set, spread the glaze over the cooled cake and sprinkle with the reserved pistachios.