Spanish bank BBVA, the second largest in the country, reports on its recommendations for investments in cryptocurrencies for affluent clients.
BBVA's Recommendations
According to a Reuters report, BBVA is advising its high-net-worth clients to invest up to 7% of their portfolios in cryptocurrencies. Philippe Meyer, Head of Digital and Blockchain Solutions at BBVA Switzerland, stated that starting from September 2024, clients can allocate between 3% and 7% of their assets to cryptocurrencies, depending on their risk appetite.
Cryptocurrencies in Investment Portfolio
Currently, BBVA primarily recommends its clients to invest in Bitcoin (BTC) and Ethereum (ETH). In this context, Meyer noted that the bank is one of the first major banks in the world to advise its clients on purchasing cryptocurrencies.
Future Plans for BBVA's Crypto Consulting
BBVA also plans to expand its product offerings and increase its advisory services on other altcoins later this year. Meyer emphasized that the bank has been fulfilling customer requests to purchase cryptocurrencies since 2021.
Thus, BBVA demonstrates an active approach to integrating cryptocurrencies into its clients' investment strategies, assessing their potential and adapting recommendations based on individual preferences.
