Spanish banking giant BBVA is advising its highest-net-worth clients to allocate between 3% and 7% of their investment portfolios to Bitcoin.
This strategic recommendation reflects a significant shift within traditional banking towards cryptocurrency adoption, driven by increasing institutional interest. The specific allocation percentage is tailored to each client’s individual risk tolerance, signaling BBVA’s institutional confidence in the crypto asset class.
To support this integration of digital assets into wealth management, BBVA has expanded its suite of crypto services. These offerings, including trading and custody capabilities, are currently available to clients in Spain and Switzerland.
BBVA’s move aligns with a broader trend among major financial institutions embracing cryptocurrencies. Examples include JPMorgan facilitating Bitcoin purchases for its wealth management clients and accepting spot Bitcoin ETFs as collateral.
This institutional push occurs despite regulatory caution. The European Securities and Markets Authority (ESMA) has previously warned about potential financial stability risks associated with crypto-assets.
Nonetheless, evolving regulatory frameworks and strong market demand are prompting more EU banks to explore crypto services. BBVA positions Bitcoin as a strategic asset class within diversified portfolios, balancing its potential for high returns against inherent volatility.