Spanish giant lender BBVA is reportedly advising its wealthy private banking clients to allocate between 3% and 7% of their portfolios to cryptocurrencies. This marks a significant step beyond simply executing client requests, positioning BBVA as a pioneer in actively recommending crypto exposure.

Speaking at the Digiassets conference in London, Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, revealed, “With private customers, since September last year, we started advising on bitcoin. The riskier profile, we allow up to 7% of (portfolios in) crypto.”

According to a Reuters report, this advice currently applies to bitcoin and ether, with plans to expand to other cryptocurrencies later this year. This latest move by BBVA comes nearly five years after the bank through its Swiss subsidiary opened bitcoin trading and custody services to its private banking clients.

In 2023, its Turkish subsidiary, Garanti BBVA, established a dedicated company to provide crypto asset custody services for a wider range of digital currencies. Most recently, in March 2025, BBVA received regulatory approval from the Spanish securities regulator (CNMV) to offer bitcoin and ether trading services to its clients in Spain, coinciding with the full implementation of the EU-wide Markets in Crypto-Assets (MiCA) regulation.

Although many private banks readily process client-initiated requests to buy and sell cryptocurrencies, few proactively advise clients to incorporate digital assets into their portfolios. BBVA advisory stance is seen as a significant shift from the cautious approach that has long dominated mainstream finance.

The Spanish lender’s bold move comes despite continued warnings from regulators, including the European Securities and Markets Authority (ESMA), against investing in cryptocurrencies. However, Meyer asserts that even a modest 3% allocation can “boost the performance” of a balanced portfolio without taking “a huge risk.”

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