- 25% of investors in four European countries have already invested in crypto, with adoption highest in Spain and lowest in France.
- For crypto trading, investors are more than twice as likely to trust their main bank than specialized platforms.
- Over a third of investors may switch banks for better crypto investment options
Boerse Stuttgart Digital, Europe’s leading crypto infrastructure partner for banks and financial institutions, conducted a representative cross-market study on investment behavior, attitudes and decision drivers related to crypto with 6,000 participants in Germany, Italy, Spain, and France. The findings reveal growing interest in digital assets, pointing to a clear strategic opportunity for banks, brokers, and asset managers. However, they highlight a significant education gap: over 60% of investors feel poorly informed about digital assets, 76% believe crypto is insufficiently regulated and therefore too risky, and 69% find them too complex. This underscores the importance of regulated offerings in strengthening trust and making access to crypto and other digital assets more secure
Spain leads crypto adoption ahead of Germany
Every fourth investor surveyed has already invested in crypto. Among the examined countries, Spain shows the highest adoption rate: nearly 28% of investors there have already invested. In Germany, the figure is 25%, while Italy (24%) and France (23%) are trailing behind slightly. 36% of crypto investors say they are likely to invest again within the next five years, demonstrating sustained interest despite market volatility. Spain also leads in general crypto investment interest at over 40%, followed by France (36%), Germany (35%), and Italy (34%).
“Crypto adoption across Europe is continuing to grow, with Spain emerging as a frontrunner,” comments Dr. Matthias Voelkel, CEO of Boerse Stuttgart Group. “Notably, it is not only the number of investors entering the market that is significant, but also the sustained intention to invest further in the coming years, even in the face of market volatility.”
Crypto services could drive bank switching
Crypto could emerge as a key success factor for the bank of the future, as customer expectations are increasingly shaped by digital finance. Nearly one in five investors expect their bank to offer access to crypto within the next three years. Demand is strongest in Germany, where 22% of investors expect this service, followed by Spain (19%), Italy (18%), and France (16%).
Potential switching behavior underscores the strategic relevance of crypto: 35% of respondents across Europe could imagine changing their bank if another institution offered better crypto investment opportunities. This pattern is consistent across markets, with Spain leading at 40%, followed by Italy (35%), France (33%), and Germany (29%), highlighting crypto services as a key differentiator for financial institutions.
“Crypto continues to gain traction across Europe. The findings highlight the growing importance of regulated access to this asset class. Through institutional-grade trading and custody solutions, Boerse Stuttgart Digital enables banks and other financial institutions to meet the rising demand for easy and secure access to crypto and other digital assets across Europe,” says Dr. Matthias Voelkel.
Bridging the crypto knowledge gap
Despite growing interest in crypto, education remains a major challenge. Germans feel more informed than other Europeans, yet 65% still find crypto too complicated, versus 73% in Spain and France, and 70% in Italy. When asked if they would invest more with better knowledge, 54% in Spain, 49% in France, and 44% in Italy and Germany agreed. This underpins that educational resources and regulated offerings are essential to make crypto safer and more accessible.
“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,” says Dr. Matthias Voelkel.
Trust and regulation drive adoption
Trust remains a decisive factor in the crypto market. Europeans are more than twice as likely to trust their main bank than specialized platforms, making traditional banks the preferred entry point. Trust is particularly strong in France (46%), followed by Spain (40%), Germany (38%), and Italy (37%). Regulation also plays a critical role in investor confidence. Nearly half of European investors say that EU regulation of crypto service providers increases their trust in digital assets, with frameworks such as MiCAR perceived as making the asset class safer and more attractive.
“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. As the first EU‑wide MiCAR‑licensed crypto service provider in Germany, Boerse Stuttgart Digital strengthens a trusted digital‑asset ecosystem with a fully regulated gateway to crypto markets,” comments Dr. Matthias Voelkel.
Implications for financial institutions
The study reveals a clear convergence of rising digital expectations and strong trust in established institutions. For financial institutions, this creates a compelling case to integrate regulated crypto offerings.
“European investors place growing importance on trust and access to emerging asset classes when choosing their banking partners,” says Dr. Matthias Voelkel. “Our study shows that crypto increasingly shapes how banks attract and retain customers. Financial institutions must recognize this shift to meet investor expectations in a rapidly evolving digital landscape.“
About the study
The study referenced in this press release was conducted by the online market research institute Marketagent. The study is based on 6,000 online questionnaires with people aged 18 and 70 years. The sample is representative of the German, Italian, Spanish and French populations. The survey period ran from August 29, 2025, to January 21, 2026.
