Preheat the oven to 350°F. Grease a 10-cup Bundt pan.
To make the cake: In a medium-sized mixing bowl, beat together the butter, cream cheese, and pistachio paste until soft and fluffy.
Add the flour, sugar, baking powder, and salt. Mix to combine; the batter will be stiff.
Add the flavorings, optional food coloring, and 1 egg. Beat well. Continue to add the eggs, one at a time, beating well and scraping the bowl after each addition. When done, the batter will be very fluffy. Mix in the chips and nuts.
Spoon the batter into the prepared pan.
Bake the cake for 50 to 60 minutes, until a cake tester or toothpick inserted into the center comes out clean. Remove the cake from the oven, and after 5 minutes turn it out of the pan to cool on a rack. The cake will be golden brown with a dark brown edge, and a fine crumb inside.
To make the glaze: Melt together the chocolate and cream over low heat; stir until smooth and cool to lukewarm. Pour over the top of the cake, and sprinkle with chopped pistachios before the glaze hardens.
Tips from our Bakers
- Instead of one Bundt cake, you can divide this batter between two greased 8 1/2" x 4 1/2" loaf pans. Bake them for 50 to 60 minutes, tenting with foil if needed at 40 minutes. Now you'll have one to keep and one to share!
Want to make your own pistachio paste? The following recipe makes 1 generous cup of paste; use what you need in the recipe and refrigerate or freeze the rest.
1 1/3 cups (160g) shelled roasted pistachios, salted or not
6 tablespoons (74g) granulated sugar
4 to 6 tablespoons (57g to 85g) water
Blanch the nuts in boiling water for 15 to 20 seconds, then drain and rinse with cold water. Rub the nuts between layers of a clean dish towel; the friction will loosen the nuts’ skin, making them easier to peel. Peel the skin from the nuts.
Pulse the pistachios and sugar in a food processor until no large bits of pistachios are visible (the finer the grind, the smoother the finished paste will be).
Add 4 tablespoons (57g) water and pulse to combine. Add more water if necessary to make a smooth paste.
Store paste airtight in the refrigerator.
Note: Blanching and peeling the nuts results in a bright-green paste that looks great in your baked goods. Skipping this step yields a muddy brown paste that’s not as attractive; that said, feel free to skip those extra steps if the paste’s color won’t bother you.