Spanish bank BBVA has started recommending its wealthy clients to invest in cryptocurrency, highlighting the opportunities this market offers even amid risks.
BBVA's Investment Recommendations in Crypto
Banco Bilbao Vizcaya Argentaria (BBVA) advises its wealthy clients to allocate between 3% and 7% of their investment funds to cryptocurrencies such as Bitcoin. This was stated by bank executive Philippe Meyer at a conference in London, emphasizing that adding just 3% in crypto can boost a portfolio’s returns without significant risk.
BBVA's Crypto Initiatives
BBVA began offering crypto trading services in 2021 and started advising its wealthy clients to invest in crypto in September 2024. After Spanish regulators allowed the bank to offer Bitcoin and Ether trading in March 2025, plans emerged to add new crypto features to its mobile app. This took place after the EU's new crypto rules (MiCA) came into effect in December 2024.
Market and Regulator Reactions
Despite BBVA's recommendations, many clients remain concerned about the potential instability of the crypto market. EU regulators and the European Central Bank continue to highlight the risks associated with cryptocurrencies. However, moves by major banks like BBVA may signal a growing trust in cryptocurrencies, which could lead to further involvement of European banks in this sector.
BBVA's recommendations on investing in cryptocurrency highlight shifting attitudes among major banks towards this asset, while risks and regulatory constraints remain a topic of discussion.
