Heat olive oil in a large stockpot over medium-low heat. Add onions and cook, stirring frequently until onions are soft and translucent.
Stir in garlic and cook for about a minute longer.
Add in broth, asparagus, salt, pepper and bay leaf. Increase heat to high and bring to a boil. Reduce heat and simmer until asparagus is tender, about 5 minutes.
Remove from heat and discard bay leaf. Using a handheld blender puree soup until smooth or carefully pour into a blender and blend until smooth.
Season with additional salt and pepper to taste.
Ladle into serving bowls and garnish with Parmesan cheese or crème fraîche and a pinch of chopped chives.