BBVA (Banco Bilbao Vizcaya Argentaria), Spain’s second-largest bank, is advising its wealthy clients to allocate up to 7% of their portfolio towards Bitcoin (BTC) and Ethereum (ETH).
This is yet another sign that major banks and financial institutions that previously shunned crypto are warming up to the sector.
BBVA Suggests Crypto Allocation
BBVA reportedly advised its wealthy clients to invest between 3% and 7% of their investment portfolio into Bitcoin and Ethereum, depending on their desired risk exposure. Speaking at the DigiAssets conference in London, Philippe Mayer, head of digital and blockchain solutions at BBVA Switzerland, started,
“With private customers, since September last year, we started advising on bitcoin. The riskier profile, we allow up to 7% of (portfolios in) crypto.”
He also added that portfolio allocation has been increased to adjust for riskier profiles.
Clients Receptive
Meyer claimed that the bank’s customers had been very receptive to the bank’s advice about crypto allocations. He also dismissed concerns that Bitcoin was too risky as an investment asset, stating,
“If you look at a balanced portfolio, if you introduce 3%, you already boost the performance. At 3%, you are not taking a huge risk.”
Meyers also said that while the 3%-7% advice currently applies to BTC and ETH, the bank plans to expand it to other cryptocurrencies later in the year. BBVA’s decision to nudge clients towards crypto comes amid continued warnings from European Union leaders and its central bank about the risk of crypto. According to the European Securities and Markets Authority (ESMA), 95% of banks operating in the European Union are avoiding crypto. However, Meyer stated that BBVA has been executing crypto trades since 2021 and moved into active crypto advisory in 2024.
Crypto’s Resurgence
Bitcoin (BTC) and other cryptocurrencies have soared in recent months, with BTC surging past $100,000 and setting a new all-time high of $111,970 in May. While markets have retreated thanks to macroeconomic concerns and escalating geopolitical tensions, BTC has maintained its position above $100,000.
The resurgence comes after significant lows seen in 2022, when several major crypto companies, including FTX and Alameda Research, collapsed, leaving millions of investors bankrupt and in financial ruin. The recovery has also been supported by a pro-crypto stance adopted by President Donald Trump and his administration. Trump has appointed crypto-friendly individuals in key positions, including the Chair of the United States Securities and Exchange Commission (SEC).
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice
Source: https://cryptodaily.co.uk/2025/06/spains-second-largest-bank-advises-wealthy-clients-to-make-crypto-allocation