A new survey released by Boerse Stuttgart Digital on Tuesday showed that crypto access is increasingly becoming a consideration in the choice of banks of some investors in Europe.
The researchers identified that one in every three investors in Germany, Italy, Spain, and France would switch to a new bank in case another bank provided superior investment opportunities in crypto.
In the meantime, the survey of 6,000 respondents in the four markets revealed that crypto is approaching the mainstream banking relationship. It also found that 25 percent of respondents have already invested in crypto, while 36 percent of crypto investors said they are likely to invest again within the next five years.
The results indicate that demand remains stable despite the fact that several investors continue to perceive risks concerning regulation, complexity, and a lack of knowledge.
Spain leads adoption as investor interest stays firm
Spain had the best rate of crypto adoption amongst the countries surveyed. Almost a quarter of Spanish investors reported to have already invested in digital assets (nearly 28 percent). Germany came at 25 percent and Italy at 24 percent and France at 23 percent.
Besides, the interest in future crypto investment was also widespread in the survey. Spain was the top in total interest with over 40 percent of the respondents interested in the asset class.
France was at 36 percent, Germany at 35 percent and Italy at 34 percent. In all four markets, a quarter of investors had already ventured into the crypto market.
According to Boerse Stuttgart Digital, this pattern shows that Crypto remains part of the investment conversation in Europe despite market swings.
A separate finding showed that 36 percent of crypto investors are likely to invest again within the next five years, which suggests that previous market volatility has not removed interest from many existing participants.
Dr. Matthias Voelkel, chief executive of Boerse Stuttgart Group, said, ”Crypto adoption across Europe is continuing to grow, with Spain emerging as a frontrunner.”
He added that the number of investors entering the market and the willingness to keep investing over time both matter for financial institutions that are reviewing their product mix.
Crypto services are becoming a banking differentiator
The survey found that crypto access could affect customer loyalty and bank selection. Across the four countries, 35 percent of respondents said they could imagine changing banks if another institution offered better crypto investment opportunities.
Spain posted the highest share at 40 percent, followed by Italy at 35 percent, France at 33 percent, and Germany at 29 percent.
That data adds to the view that digital asset services are becoming more relevant for banks, brokers, and asset managers. Nearly one in five investors said they expect their main bank to offer crypto access within the next three years.
Germany posted the strongest expectation at 22 percent, followed by Spain at 19 percent, Italy at 18 percent, and France at 16 percent.
In addition, the study also found that investors are more than twice as likely to trust their main bank for crypto trading than specialized platforms. That preference gives traditional banks an advantage as they decide whether to expand digital asset offerings.
For institutions already working on regulated crypto products, the survey suggests customer demand may support that move.
”Crypto continues to gain traction across Europe. The findings show the growing importance of regulated access to this asset class,” Voelkel noted.
He said Boerse Stuttgart Digital offers trading and custody services designed to help financial institutions provide simple and secure access to crypto and other digital assets.
Regulation and education remain the main barriers
Even with rising interest, many investors still view crypto as risky and difficult to understand. The survey found that 76 percent of respondents believe crypto is insufficiently regulated and therefore too risky. More than 60 percent said they feel poorly informed about digital assets, while 69 percent described crypto as too complex.
Country-level results showed that German investors felt more informed than investors in the other markets, but concern remained high. About 65 percent of Germans still said crypto is too complicated. That figure rose to 73 percent in both Spain and France and reached 70 percent in Italy.
The survey also asked whether investors would put more money into crypto if they had better knowledge. In Spain, 54 percent agreed with that view. France came next at 49 percent, while both Italy and Germany stood at 44 percent. These figures suggest that education may play a direct role in how much further crypto adoption grows across Europe.
”Access to financial knowledge and crypto has never been easier, yet financial literacy in Europe still lags, especially in digital finance,” Voelkel stated.
He said simple, secure, and regulated bank-based offerings could help private investors approach the asset class with more confidence.
MiCA appears to support trust in digital assets
European Union regulation is also shaping investor attitudes. The Markets in Crypto-Assets Regulation, known as MiCA, took full effect for crypto asset service providers on Dec. 30, 2024.
According to the survey, nearly half of European investors said that EU regulation of crypto service providers increased their trust in digital assets.
According to respondents, crypto seems safer and more appealing due to regulatory frameworks like MiCA. This reaction indicates that transparent regulations can contribute to minimizing uncertainty of investors willing to invest in digital assets but worried about legal ambiguity or market risk.
Boerse Stuttgart Digital has placed itself within that regulated framework. In January 2025, the company said it became the first German provider of crypto asset services to receive an EU-wide MiCA license through its custody subsidiary.
That position allows it to present itself as a regulated infrastructure provider for banks, brokers, and asset managers across Europe.
”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,” Voelkel said.
The survey results suggest that banks offering regulated Crypto access may be better placed to attract investors who want both convenience and a more familiar point of entry.