A survey found that 1 in 4 investors in four of Europe’s largest economies, including Germany, Italy, Spain and France, have invested in cryptocurrencies.

According to blockchain media outlet BeInCrypto on April 22, a survey of 6,000 investors in Germany, Italy, Spain and France put the overall share investing in cryptocurrencies at 25 percent.

Market research firm Marketagent conducted the survey from August 2025 to January 2026 among investors aged 18 to 70. By country, Spain ranked highest at about 28 percent, followed by Germany at 25 percent, Italy at 24 percent and France at 23 percent.

The survey also found interest in additional investment, not just a rise in inflows. Among cryptocurrency investors, 36 percent said they were likely to invest again within the next five years. By country, Spain ranked highest at more than 40 percent, followed by France at 36 percent, Germany at 35 percent and Italy at 34 percent.

Matthias Voelkel (마티아스 뵐켈), chief executive of Boerse Stuttgart Group, said crypto adoption in Europe continues to expand and Spain is emerging as a leading country. He said it was important that, despite market volatility, intentions to invest further are continuing over the coming years.

A key barrier to wider investment was cited as low understanding. German investors showed relatively more confidence than those in other countries, but even in Germany 65 percent said cryptocurrencies were too complex. Spain and France were at 73 percent each, and Italy at 70 percent.

If the knowledge gap is narrowed, the capacity to invest could increase. Some 54 percent of Spanish investors said they could increase cryptocurrency investment if they understood it better, along with 49 percent in France and 44 percent each in Germany and Italy.

Demand from the financial sector was also significant. About 1 in 5 European investors said they expect their bank to offer crypto access services within the next three years. By country, demand was 22 percent in Germany, 19 percent in Spain, 18 percent in Italy and 16 percent in France.

The survey also found potential for customers to move between banks. Some 35 percent of European investors said they would switch to a bank that offers better crypto services. Spain was highest at 40 percent, followed by Italy at 35 percent, France at 33 percent and Germany at 29 percent.

The influence of crypto holders is also growing in politics. Adriana Ennab (아드리아나 에나브), UK head of British pro-crypto group Stand With Crypto, said there is a concept of “crypto voters” and the issue will become a bigger one. Dion Seymour (디온 시모어), Anderson’s head of crypto tax technology and a former policy head at the UK tax authority, said as the number of crypto holders in the UK increases, the issue is no longer on the margins and needs greater political attention.

Against this backdrop, the next points to watch in Europe’s crypto market are expected to be expanded investor education and competition among financial firms over services.