A growing share of investors across Europe now factor cryptocurrency access into their banking decisions, according to a new study commissioned by Boerse Stuttgart Digital. The survey, conducted with market research firm Marketagent, covered 6,000 respondents across Germany, Italy, Spain, and France between August 2025 and January 2026.
The findings show that one in four investors in these markets already holds crypto assets. Spain recorded the highest adoption at nearly 28%, followed by Germany at 25%, Italy at 24%, and France at 23%. The data reflects a steady expansion of digital asset participation across Europe, even as concerns around regulation and complexity remain.
Crypto services emerge as a competitive factor for banks
The study highlights a shift in how investors evaluate financial institutions. About 35% of respondents said they would consider switching banks if another provider offered better crypto investment services. The figure rises to 40% in Spain, which leads both in adoption and future interest.
Nearly one in five investors expects their primary bank to provide crypto access within the next three years. Demand appears strongest in Germany, where 22% of respondents anticipate such services, followed by Spain, Italy, and France.
Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group, described the shift in investor expectations:
“Crypto adoption across Europe is continuing to grow, with Spain emerging as a frontrunner.”
He added:
“European investors place growing importance on trust and access to emerging asset classes when choosing their banking partners.”
The findings point to a competitive challenge for traditional banks. Investors show a clear willingness to move assets if access to digital markets improves elsewhere. At the same time, trust remains tied to established institutions. The study found that investors are more than twice as likely to trust their main bank for crypto trading compared to specialized platforms.
Regulation and knowledge gaps shape adoption
Despite rising interest, several barriers continue to slow broader adoption. The survey shows that 76% of respondents believe crypto markets remain insufficiently regulated. More than 60% said they do not feel well informed about digital assets, while a majority described the sector as complex.
In Germany, 65% of participants said crypto remains too complicated. The figure rises to over 70% in Spain and France. These responses show that access alone does not resolve concerns tied to usability and understanding.
Dr. Voelkel addressed this gap directly:
“Access to financial knowledge and crypto has never been easier, yet financial literacy in Europe still lags, especially in digital finance. Simple, secure and regulated bank-based offerings are key to making crypto more accessible and helping private investors engage with this asset class more confidently.”
The data also shows that better knowledge could drive further participation. In Spain, 54% of respondents said they would invest more if they had a stronger understanding. France followed at 49%, while Germany and Italy both stood at 44%.
Regulation improves confidence but does not remove friction
The introduction of the EU’s Markets in Crypto-Assets framework has started to influence investor sentiment. Nearly half of respondents said regulation increases their trust in digital assets, citing clearer rules and improved transparency.
Dr. Voelkel commented on the role of regulation:
“Trust and clear regulation are essential for the next phase of crypto adoption in Europe. With MiCAR bringing transparency and legal certainty, investors gain the clarity they expect.”
However, regulatory clarity alone does not resolve operational concerns. The study points to continued hesitation tied to complexity, access, and education. These factors shape how quickly banks can integrate crypto services into their offerings.
Institutions move to capture demand
The survey aligns with recent moves by Boerse Stuttgart Digital to expand its role in the European crypto market. The company secured an EU-wide MiCA custody license in January 2025 and opened a hub in Madrid later that year. These steps reflect a broader push to provide regulated infrastructure for banks and financial institutions.
The firm positions itself as a bridge between traditional finance and digital assets, offering custody and trading solutions designed to meet regulatory requirements. Its expansion comes at a time when banks face growing expectations to integrate crypto into standard financial services.
The study outlines a convergence between rising investor demand and institutional readiness. Investors show interest in digital assets, but they continue to rely on trusted intermediaries. Banks, in turn, face pressure to deliver regulated and accessible solutions that address both opportunity and risk.
The results present a clear signal for the European financial sector. Crypto no longer sits at the margins of investment behavior. It now plays a role in how investors choose where to hold and manage their money.
Tanya Petrusenko
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that, despite the nature of much of the material created and hosted on this website, HODL FM operates as a media and informational platform, not a provider of financial advisory services. The opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice, HODL FM strongly recommends contacting a qualified industry professional.
