KBC to Let Belgian Retail Clients Trade BTC and ETH via Bolero in Feb 2026
Belgium’s KBC Group will allow retail customers to trade Bitcoin (BTC) and Ethereum (ETH) through its online investment platform Bolero during the week of 16 February 2026. The service — the first by a Belgian bank for everyday customers — is execution-only, requires a risk-knowledge and experience test, and operates inside a closed-loop custody model that prevents withdrawals to external wallets or exchanges. KBC has filed a full Crypto-Asset Service Provider (CASP) notification with Belgian authorities and says the rollout will comply with the EU’s Markets in Crypto-Assets (MiCA) rules. Bolero serves roughly 4 million users, with a young user base and notable interest from 30‑somethings; KBC emphasises investor education and risk disclosure. The move continues a broader European trend of regulated in-bank crypto trading (examples include DZ Bank in Germany and BPCE in France) and may shift some retail volume away from foreign exchanges like Coinbase and Binance. Price context cited alongside the announcement notes steady BTC (~$95k) and ETH (near $3.5k) levels and a CoinCodex baseline projection suggesting possible 12‑month downside for BTC (~$84.7k), implying near-term price sensitivity. For traders: expect broader retail on‑ramp and institutional normalisation that can increase local liquidity and flow, while the bank-style custodial restriction may limit on‑chain demand from new users and temper spot-driven rallies.
Neutral
KBC’s decision to offer BTC and ETH trading to retail clients is a structural positive for market access and liquidity: it broadens regulated on‑ramps, may redirect retail volume from overseas exchanges, and signals further institutional normalisation in Europe. Those factors support increased local spot demand over time. However, the closed-loop custody model (no withdrawals to external wallets) and execution-only restrictions limit on‑chain activity from new users and reduce immediate speculative buying pressure that typically drives sharp spot rallies. Additionally, CoinCodex’s projection of potential 12‑month downside for BTC introduces a cautionary price view that could temper buying. Short-term impact is therefore likely muted (limited new on‑chain demand and execution-only constraints), while long-term impact is mildly positive for market depth and retail participation within regulated channels. Overall, the net price effect on BTC and ETH is expected to be neutral in the near term, with a gradual constructive influence on liquidity and adoption over a longer horizon.