Crypto Ownership Surges in Europe Despite Market Volatility

Awareness and ownership of cryptocurrencies are increasing across Europe, according to a recent report. More than 90% of adults aged 18 and over in major European economies are familiar with crypto-assets, as highlighted in the report titled “Web3 Industry in France and Europe” by Adan. This surge in awareness comes even as the cryptocurrency market faces challenges, including a significant sell-off in October 2025 triggered by US President Donald Trump‘s tariff threats against China.

Despite the market’s fluctuations, the trend towards crypto ownership is promising. A survey conducted by the European Central Bank indicated that 9% of adults in the eurozone owned crypto-assets in 2024. Ownership rates vary among the 20 eurozone countries, ranging from 6% in the Netherlands and Germany to 15% in Slovenia. Following Slovenia are Greece, Ireland, Croatia, Cyprus, Lithuania, and Austria, which share similar ownership levels.

Factors Influencing Ownership Variations

The differences in ownership rates among countries can be attributed to several factors, including digital adoption levels, risk tolerance, and the local financial landscape. James Sullivan, chief risk and compliance officer at BCB Group, stated, “Countries with a high degree of financial innovation and a younger, typically male-dominated, investor base tend to lead.” He emphasized the importance of local regulatory environments and economic conditions. In regions where traditional investment options are limited, cryptocurrencies are often viewed as speculative investments. Notably, Italy’s robust awareness campaigns have significantly contributed to increased adoption.

Although the United Kingdom is not part of the eurozone, it remains a major player in the crypto landscape. The UK ranked third globally in transaction volumes in 2024, following the United States and India, as per Sullivan’s insights.

Significant Increases in Ownership

The period from 2022 to 2024 saw a notable increase in crypto ownership across almost all eurozone nations. Overall ownership rose from 4% in 2022 to 9% in 2024. Greece and Lithuania experienced the most significant increases, each rising by 10 percentage points. Other countries, including Cyprus, Belgium, Ireland, Austria, Slovakia, Slovenia, Portugal, and Italy, also saw increases of 7 points or more.

Sullivan remarked that this uptick in ownership reflects a strengthening interest among European retail investors, suggesting that the previous “crypto winter” has become a thing of the past. He attributed this growing confidence to both the cyclical recovery of global market momentum and the consumer protections instituted by the Markets in Crypto-Assets (MiCA) regulation. MiCA aims to establish uniform EU market rules for crypto-assets, enhancing trust and attracting previously cautious investors.

Investment remains the primary motivation for crypto ownership in the eurozone, with 64% of holders indicating they view it as an investment. Only 16% use cryptocurrencies for payments, while 19% report utilizing them for both purposes. Notably, the highest percentage of investment-focused users is found in the Netherlands (90%) and Germany (82%), even though these countries have some of the lowest overall ownership rates. By contrast, France leads in payment usage at 25%.

Sullivan commented on the current state of the market, stating, “The divergence between investment and payment purposes highlights that the crypto market remains overwhelmingly speculative.” He noted that while certain cryptocurrencies, especially stablecoins, offer practical transactional advantages, their use as a daily currency is still limited compared to traditional methods such as credit cards and cash.

The future of cryptocurrencies as a utility will heavily depend on the successful implementation of MiCA, particularly in regulating euro-denominated stablecoins and ensuring their smooth integration into existing payment systems. This challenge is a significant focus for the European Central Bank as it navigates the evolving financial landscape.