Source: Cointelegraph Original: "{title}"

Despite the United States advancing landmark cryptocurrency regulatory legislation aimed at establishing Bitcoin (BTC) as a national reserve asset, institutional adoption of Bitcoin in Europe remains stagnant.

More than three weeks after President Trump issued an executive order on March 7 outlining a federal Bitcoin reserve program through confiscated cryptocurrencies, European companies have largely remained silent on the issue.

This stagnation may stem from Europe's complex regulatory framework, said Elisenda Fabrega, Chief Legal Advisor at Brickken (a European real asset tokenization platform).

"The adoption by European enterprises is still limited," Fabrega said in an interview with Cointelegraph, adding, "This hesitation reflects deeper structural divergences rooted in regulation, institutional signals, and market maturity. Europe has yet to take a clear stance on Bitcoin as a reserve asset."

The economic model of Bitcoin leans towards early adopters, which may compel more investment firms to consider exposure to Bitcoin. Despite a recent pullback, this asset has outperformed most major global assets since Trump's election.

Asset performance since Trump's victory. Source: Thomas Fahrer

Although President Trump issued an executive order, only a handful of European companies have publicly disclosed Bitcoin holdings or crypto services. These companies include French banking giant BNP Paribas, Swiss firm 21Shares AG, VanEck Europe, Malta-based Jacobi Asset Management, and Austrian fintech company Bitpanda.

A recent Bitpanda survey indicated that European financial institutions may be underestimating the demand from crypto investors, with discrepancies as high as 30%.

Analysts from Bitfinex, in an interview with Cointelegraph, stated that the slower adoption process in the EU is related to its complex regulatory framework and more conservative investment mandates. "The institutional environment in Europe is more fragmented, with regulatory barriers and conservative investment mandates limiting Bitcoin allocation."

They added, "Moreover, due to unclear guidelines and risk aversion, European pension funds and large asset management companies have been slow to embrace Bitcoin exposure."

Iliya Kalchev, a scheduling analyst at Nexo digital asset investment platform, noted that, aside from complex regulations, retail investor demand and participation in Europe are generally lower than in the U.S. He told Cointelegraph, "Europe is typically more conservative in adopting new financial instruments," adding, "This stands in stark contrast to the depth, liquidity, and relative uniformity of U.S. capital markets, where the launch of a spot Bitcoin ETF has received strong retail demand and clear regulatory approval."

iShares Bitcoin ETP listing. Source: BlackRock

The world's largest asset management company, BlackRock, launched a Bitcoin exchange-traded product (ETP) in Europe on March 25, a move that could bolster institutional confidence among European investors.

Related: APX Lending receives exemption from Canadian securities regulators.

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