Manchester United and Tottenham have both been linked with Valencia, the Ecuador international who has been so impressive for Wigan this season.
However, Bruce feels interest from Real Madrid or Bayern Munich would appeal more to Valencia.
Wigan will not sign Amr Zaki on permanent dealIt's inevitable that the lad will be leaving in the summer as there are clubs queuing up, jostling for position," Bruce said.
"I won't lie to fans about that. Of course I would love to keep him, but it's going to be impossible for that to happen.
"I have only worked with the kid for 18 months but he has got a special talent. He's a very good player.
"Would he be tempted by Spain. I don't know. Bayern Munich are also a huge club in Germany."
Valencia has almost certainly played his last game for Wigan as a hamstring injury is likely to keep him out of the game against Portsmouth on Sunday.
"Antonio is going to be touch and go for Sunday," added Bruce. "I would think he is less than 50-50. He's had this hamstring problem on and off since Christmas."