BBVA, a well-known Spanish bank, recommends high-net-worth individuals to dabble in Bitcoin, according to a recent report.
Spanish banking titan BBVA is shaking up the financial world by encouraging its most affluent clients to dive headfirst into the crypto space, following their recent announcement to offer crypto trading services.
According to a report by Reuters, BBVA's high-income clients are being advised to allocate a chunk of their portfolios—ranging from 3% to 7%—to Bitcoin (BTC) and other cryptocurrencies. The suggested allocation depends on the investor's appetite for risk, as revealed by Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA Switzerland. Meyer disclosed that BBVA has been guiding its private clients on Bitcoin investments since September 2024 at the DigiAssets conference in London.
For the risk-averse, a 3% allocation is suggested, whereas those with a taste for the thrill can invest up to 7%.
In 2025, BBVA got the green light in Spain to provide crypto trading and custody services to customers. Initially, a select group of private clients were allowed to purchase Bitcoin and Ethereum (ETH). As time goes by, the access broadens, eventually allowing all private banking clients the opportunity to participate.
BBVA's decision to actively recommend crypto exposure aligns with a growing trend among traditional financial institutions. However, the European Securities and Markets Authority has previously voiced concerns about the potential risks that crypto could pose to global financial stability. Despite this, the overall sentiment is that more and more banks are preparing to take the plunge. It's only a matter of time before we see banks stockpiling Bitcoin.
BBVA has been honoring client Bitcoin purchase requests since 2021, following the launch of bitcoin trading for private clients in Switzerland. Meanwhile, JPMorgan is also jumping on the crypto bandwagon, allowing clients to buy and hold Bitcoin while defending the right of its customers to access digital assets. JPMorgan also plans to accept spot Bitcoin exchange-traded funds (ETFs) as collateral for loans to wealthy clients, with BlackRock's BTC ETF being the first accepted.
In essence, BBVA advises its wealthiest clients:
- Risk-averse or moderately risk-tolerant clients: Allocate around 3% of the portfolio to Bitcoin and Ether.
- More risk-tolerant clients: Allocate up to 7% of the portfolio to these cryptocurrencies.
BBVA's guidance demonstrates the bank's belief that cryptocurrencies can play a crucial role in diversified investment portfolios, offering the potential for enhanced returns without assuming excessive risk at these proposed allocation levels.
[1] BBVA's Investment Guidance for Its Wealthiest Clients[2] BBVA's Advancement in Crypto Trading Services[4] JPMorgan's Move Towards Crypto Investments[5] BlackRock's Upcoming Bitcoin ETF and Its Impact on Banks
- BBVA advises its wealthiest clients to allocate around 3% to 7% of their portfolios to Bitcoin and Ethereum, with risk-averse clients suggested to invest on the lower end and more risk-tolerant clients on the higher end.
- BBVA has been growing its presence in the cryptocurrency market, offering crypto trading services since 2021, and now allows all private banking clients to participate.
- JPMorgan, another traditional financial institution, is also embracing cryptocurrencies, allowing clients to buy and hold Bitcoin, and plans to accept spot Bitcoin Exchange-Traded Funds (ETFs) as collateral for loans to wealthy clients.
- BBVA's investment guidance indicates a belief that cryptocurrencies can offer enhanced returns within a diversified investment portfolio without assuming excessive risk at the proposed allocation levels, echoing a growing trend among financial institutions.
