BBVA, a prominent Spanish banking institution, is encouraging its affluent clientele to consider investing between 3% and 7% of their investment portfolios into cryptocurrency. Philippe Meyer, the head of digital and blockchain solutions at BBVA Switzerland, indicated that this percentage depends on individual clients’ willingness to accept risk.
During remarks made at the DigiAssets conference held in London, Meyer informed Reuters that clients classified with higher risk profiles might allocate as much as 7% of their portfolios to crypto assets.
“Since last September, we have begun advising our private clients on Bitcoin,” Meyer explained.
This past March, BBVA obtained official authorization from Spain’s securities regulator to initiate trading services for Bitcoin and Ether, signaling its deeper engagement in the cryptocurrency sector.
Spanish lending giant BBVA said it won approval to launch Bitcoin and Ether trading, integrating crypto into everyday banking.#BBVA #CryptoTrading https://t.co/ifB7FxuUV8
— Finance Newso.com (@Finance Newso) March 10, 2025
BBVA has been addressing customer inquiries about cryptocurrency investments since 2021, with Meyer asserting that the bank is among the first major global financial institutions to recommend Bitcoin purchases to wealthy clients.
In contrast, JPMorgan has recently announced its plans to permit clients to buy Bitcoin. CEO Jamie Dimon stated, “We are going to allow you to buy it. We’re not going to custody it. We’re going to put it in statements for clients.”
It remains uncommon for banks to promote cryptocurrency investments to their clients.
95% of EU Banks Don’t Engage in Crypto: ESMA
The European Securities and Markets Authority (ESMA) has consistently issued warnings regarding the risks associated with cryptocurrencies, emphasizing the need for ongoing scrutiny of the sector.
The regulator highlighted that 95% of banks within the European Union do not engage in cryptocurrency activities. “Since 2025, we have been actively monitoring the potential risks that crypto assets pose to financial stability,” ESMA commented.
Meyer mentioned that BBVA’s current advisory services are limited to Bitcoin and Ether, although the bank has plans to expand its offerings with additional cryptocurrencies later this year. He noted that integrating just 3% of a portfolio into crypto would not pose a significant risk.
“When you consider a balanced portfolio, introducing just 3% can enhance overall performance,” he added.
Mainstream Crypto Adoption Enables Institutions to Enter the $3.2T Industry
Gadi Chait, an Investment Manager at Xapo Bank, a cryptocurrency custodian, highlighted that the rising acceptance of crypto by policymakers and the increase in retail adoption, driven by genuine use cases rather than mere price speculation, have spurred banks to adopt these assets.
“Traditional finance is gradually responding to crypto’s emergence and is eager to capture a share of the market,” he conveyed to Finance Newso. Furthermore, Bitcoin’s ascent to beyond $100,000 and the prospects of supportive regulatory policies have drawn institutional interest and bolstered confidence in Bitcoin’s future.
“Globally, positive signals from countries such as the UK, Japan, and Switzerland regarding licensing and oversight have validated this asset class more broadly,” he added.
Moreover, Spain has experienced significant growth in cryptocurrency adoption recently. According to a 2024 survey conducted by the European Central Bank (ECB), 9% of the Spanish population now holds crypto assets, a notable increase from 4% in 2022.
Additionally, Chainalysis reported that Spain nearly reached $80 billion in cryptocurrency transaction volume in 2024.
