Spain’s BBVA, one of the largest European banks, has begun actively advising its wealthy clients to allocate between 3% and 7% of their investment portfolios to cryptocurrencies like Bitcoin and Ethereum, depending on their risk appetite.
BBVA's Crypto Advisory
Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, stated that since September 2024, the bank has been offering 'active advisory'—a step beyond merely executing client requests, which it has been doing since 2021.
Risk Management Strategy
BBVA’s messaging emphasizes risk-managed exposure:
* For moderate risk profiles, a 3% crypto allocation can potentially enhance portfolio performance with minimal incremental risk. * For higher risk investors, the bank permits up to 7% in crypto holdings.
This is notable as 95% of EU banks currently avoid crypto altogether, according to ESMA stats.
Future of Crypto Advisory
Currently, BBVA's crypto advisory is limited to Bitcoin and Ethereum, but Meyer confirmed an intention to expand coverage to other major cryptocurrencies by later in 2025. This move underscores growing institutional crypto adoption, driven by improved regulation and rising client demand.
BBVA’s guidance reflects a strategic shift in private banking, integrating a measured crypto allocation as a regular asset class. The bank's advisory approach marks a milestone, demonstrating the changing role of traditional banks in actively recommending crypto investments.
