Spain’s Second-Largest Bank Recommends Up to 7% Bitcoin Allocation for Wealthy Clients
The post Spain’s Second-Largest Bank Recommends Up to 7% Bitcoin Allocation for Wealthy Clients appeared on BitcoinEthereumNews.com.
Prominent Spanish bank BBVA has been paving the way for mainstream cryptocurrency adoption, advising its wealthy customers to invest in Bitcoin. With the rapidly diminishing skepticism that was previously held against cryptocurrency, banks have been cautious in their dealings with the sector. Nonetheless, Spain’s second-largest bank, BBVA, remains a pacesetter with its embrace of the digital asset industry. A recent Reuters report shows that the banking giant has been promoting exposure to Bitcoin as early as September last year. According to the Tuesday report, Philippe Meyer, the head of digital and blockchain solutions at BBVA Switzerland, made this disclosure at a DigiAssets conference in London. BBVA Advising Wealthy Clients to Buy Bitcoin Meyer expressed the firm’s support for financial technological innovations and its embrace of the nascent cryptocurrency sector in the speech. He noted that BBVA Switzerland has been advising its wealthy private clients to hold Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. Meanwhile, the percentage of portfolio exposure varies depending on the client’s risk appetite. For a balanced portfolio, BBVA recommends that clients allocate 3% of their portfolio to buying cryptocurrencies. However, BBVA recommends up to 7% exposure to adventurous customers. Interestingly, it plans to expand its scope of exposure beyond Bitcoin and Ethereum to include other cryptocurrencies later this year. Interestingly, this percentage allocation closely aligns with those of other prominent industry leaders. For context, Thomas Petterffy, the 46th wealthiest man in the world, recommended a 2-3% exposure to Bitcoin, while BlackRock CEO Larry Fink suggests a 2-5% portfolio allocation to Bitcoin. BBVA’s Crypto Venture Remarkably, BBVA SA’s venture into the cryptocurrency space grows bolder by the day. The leading bank secured approval from Spain’s regulators in March to provide crypto custody and trading services to its clients, marking the first such approval in the…
Filed under: News - @ June 18, 2025 3:27 pm