Crypto ownership across Europe is gaining momentum in early 2025, signaling a structural shift in how Europeans view digital assets despite recent market turbulence. Although cryptocurrencies endured a rocky year marked by sharp price swings and a major sell-off following US President Donald Trump’s October tariff threats against China, long-term adoption trends tell a different story. According to the Web3 Industry in France and Europe report by Adan, awareness of crypto-assets now exceeds 90% among adults in major European economies, highlighting how deeply digital assets have entered the public consciousness.
Data from the European Central Bank reinforces this trend, showing that 9% of adults in the eurozone owned crypto-assets in 2024, more than double the 4% recorded in 2022. While ownership levels vary modestly across the 20 eurozone countries, Slovenia stands out with a 15% ownership rate, followed closely by Greece and a cluster of countries including Ireland, Croatia, Cyprus, Lithuania, and Austria. At the lower end of the scale are Germany and the Netherlands, each at around 6%, yet even these markets show strong engagement in terms of investment behavior.
The rise in ownership is not evenly distributed, but it is widespread. Greece and Lithuania posted the largest increases over the two years, each jumping by 10 percentage points, while several others, including Italy, Portugal, and Belgium, recorded gains of seven points or more. This broad-based growth suggests that the crypto winter of previous years has largely faded from consumer memory. James Sullivan, chief risk and compliance officer at BCB Group, has noted that the rebound reflects a return of global market momentum, combined with greater regulatory clarity across the European Union.
Regulation has played a decisive role in restoring confidence, particularly through the implementation of the Markets in Crypto-Assets framework. MiCA introduces uniform rules across the EU for crypto-assets not previously covered by financial services law, offering consumer protections and clearer operational standards for firms. According to Sullivan, MiCA sends a strong signal that Europe now treats crypto as a mainstream financial sector, encouraging participation from investors who previously remained on the sidelines due to regulatory uncertainty.
Despite rising ownership, crypto in Europe remains primarily an investment vehicle rather than a medium of exchange. ECB data shows that 64% of crypto holders in the eurozone use digital assets mainly for investment, while only 16% rely on them for payments. Another 19% use crypto for both purposes. Interestingly, the Netherlands and Germany, despite lower ownership rates, have the highest share of investors using crypto purely as an investment, at 90% and 82% respectively. France stands out for payment usage, with one-quarter of holders using crypto for transactions, though this remains well behind traditional payment methods.
This imbalance underscores a broader reality of the European crypto market. While stablecoins and blockchain-based payment systems offer clear technological advantages, everyday usage remains limited. Sullivan has pointed out that most consumers still favor cards and cash for daily transactions, and that widespread utility adoption will depend on how successfully euro-denominated stablecoins are regulated and integrated into existing payment infrastructure. This challenge remains a central focus for policymakers and the European Central Bank alike.
Outside the eurozone, the United Kingdom continues to exert a significant influence on the global cryptocurrency landscape. As of 2024, the UK ranked third worldwide in terms of crypto transaction volumes, behind only the United States and India, demonstrating that European interest in digital assets extends well beyond EU borders.
Looking ahead, the steady rise in crypto ownership across Europe suggests that digital assets are moving beyond a niche speculative phase toward broader financial relevance. While volatility and regulatory hurdles remain, the combination of growing awareness, investor confidence, and harmonized rules under MiCA positions Europe as a mature and increasingly influential crypto market. If current trends continue, the coming years may see crypto evolve from a primarily investment-focused asset into a more integrated component of Europe’s digital financial ecosystem.
