BBVA Advises Wealthy Clients to Allocate Up to 7% in Bitcoin and Ether

Spanish bank BBVA is recommending its affluent clients invest between 3% and 7% of their portfolios in cryptocurrencies like Bitcoin and Ether, marking a significant shift in traditional banking attitudes toward digital assets.

BBVA's private banking division is now advising clients to allocate a portion of their investments to cryptocurrencies, depending on individual risk tolerance. Philippe Meyer, Head of Digital and Blockchain Solutions at BBVA Switzerland, announced this strategy at the DigiAssets conference in London. He noted that clients with higher risk appetites are being guided to invest up to 7% in digital assets.

This move is notable as it reflects a growing acceptance of cryptocurrencies within mainstream finance. While many banks have been cautious, BBVA has been facilitating crypto purchases for clients since 2021. Meyer believes BBVA is among the first major global banks to actively recommend cryptocurrency investments to its clients.

Despite ongoing regulatory warnings about the risks associated with cryptocurrencies, BBVA maintains that a modest exposure—starting at 3%—can enhance portfolio performance without significant risk. The bank's current recommendations focus on Bitcoin and Ether, with plans to include other cryptocurrencies later this year.

This development comes amid a resurgence in cryptocurrency markets, with Bitcoin reaching new highs in May. The rebound follows a downturn in 2022, influenced by the collapse of major exchanges like FTX. Supportive policies, such as U.S. President Donald Trump's pro-crypto stance, have also contributed to renewed investor interest.