Trading in Bitcoin and other cryptocurrencies saw a rapid shift after the U.S. Securities and Exchange Commission approved spot Bitcoin and Ethereum ETFs in 2024. Retail traders are watching, and large institutions are now influencing market direction.
As traders rush to position themselves, European banks are preparing to enter the market. This week, KBC, the second-largest bank in Belgium, announced it will offer Bitcoin and Ethereum trading to everyday retail clients.
Following the announcement, Bitcoin's price remained steady above $95,000. Ethereum held firm near $3,500, a key resistance level. Observers noted that price action after the news reinforced bullish sentiment among some traders.
KBC stated it will enable retail customers to buy and sell Bitcoin and Ethereum directly through its investment platform, Bolero. This move integrates digital assets into mainstream banking apps, placing them alongside stocks and ETFs.
Previously, most Belgian investors relied on foreign crypto exchanges like Coinbase or Binance. Data indicates over 45% of Belgians in their 30s already invest in cryptocurrencies. More than 60% of Bolero users are under 40, and "Bitcoin" has been a frequently searched term on the platform.
KBC is implementing a cautious, bank-style security approach. Users can only trade Bitcoin and Ethereum within Bolero and cannot withdraw or receive coins from external accounts. The bank manages private keys, meaning users do not have full sovereign control over their holdings.
The bank has been preparing this rollout since mid-2025 to comply with MiCA, the European Union's new regulatory framework for cryptocurrencies. MiCA establishes rules for custody, consumer protection, and reporting, providing legal clarity for banks.
Other European institutions are moving similarly. Germany's DZ Bank launched a "meinKrypto" platform for cooperative banks, granting millions of Germans access to Bitcoin through local bank apps. In France, BPCE Group has begun a phased rollout allowing customers to buy Bitcoin, Ethereum, and Solana.
KBC's offering stands out due to its scale, serving millions of retail customers. This large-scale integration normalizes cryptocurrency as a standard investment option. The move may pressure rival Belgian banks like Belfius and BNP Paribas Fortis to address customer inquiries about why they do not offer similar services.