A recent survey by Bitpanda has highlighted a major disconnect between the growing interest in cryptocurrencies among European investors and the services offered by traditional financial institutions. While a significant portion of retail and business investors are already involved in crypto, banks remain hesitant to embrace digital assets.
Crypto Demand Outpaces Banking Services
The survey, conducted across 13 European countries with 10,000 retail and business investors, found that over 40% of business investors currently hold crypto, with another 18% planning to invest soon. In contrast, only 19% of financial institutions acknowledged strong demand for crypto products from their clients. This 30% gap suggests that banks are underestimating the real appetite for digital assets.
Banks Slow to Integrate Crypto Solutions
Despite acknowledging the increasing role of cryptocurrencies, only 19% of financial institutions in Europe currently offer crypto-related services. However, some progress is being made, with 18% of banks planning to expand their crypto offerings, particularly in areas like crypto transfers.
Bitpanda’s Deputy CEO, Lukas Enzersdorfer-Konrad, warned that banks delaying crypto integration risk losing customers to more innovative financial firms. He emphasized that internal challenges—such as a lack of expertise and resources—are the biggest hurdles, rather than external regulatory barriers.
Investors Prefer Crypto Through Banks
One of the key findings of the survey is that 27% of retail investors would rather invest in cryptocurrencies through their traditional banks. This suggests that financial institutions have an opportunity to capitalize on the demand by providing secure and regulated crypto services.
With the European Union’s Markets in Crypto-Assets Regulation (MiCA) offering more regulatory clarity, banks that act now could position themselves as leaders in the digital asset space. However, if they continue to lag, they may find themselves losing market share to fintech and crypto-native companies that are already catering to this growing demand.
