Finally! Traditional Banks Turn Bullish on Bitcoin, Recommend 7% Crypto Allocation

Key Insights

• BBVA, Spain's second-largest bank, is advising its wealthy clients to allocate 3-7% of their portfolios to Bitcoin and Ethereum.
• This advice is rare among European banks, with most still being cautious or wary of crypto.
• BBVA believes even a 3% crypto allocation can boost overall portfolio performance without massive risk.
• The bank recently switched from merely executing crypto trades since 2021 to actively advising on investments in late 2024.
• BBVA's move shows a step toward mainstream crypto adoption in wealth management.

Traditional banking practices are changing up very quickly these days.

In recent developments, Spain’s second-largest bank, BBVA, has started to advise its wealthy clients to allocate up to 7% of their investment portfolios to crypto.

This recommendation comes at a time when most European banks are still cautious, if not completely wary of the crypto space.

A Calculated Embrace of Crypto

BBVA’s move shows that institutional interest in digital assets is growing.

According to Philippe Meyer, the head of digital and blockchain solutions at BBVA Switzerland, the bank started to advise its private clients on Bitcoin in September 2024.

Now, depending on their risk appetite, BBVA is starting to recommend that its clients invest between 3% and 7% of their portfolios in crypto, especially Bitcoin and Ethereum.

When speaking at the DigiAssets conference in London, Meyer pointed out that the suggestion is tailored. “The riskier profile, we allow up to 7% of portfolios in crypto,” he said and noted that the bank’s clients have so far responded positively.

He even addressed the perceived risk around digital assets and pointed out that even a 3% allocation could improve anyone’s overall portfolio performance without unnecessary exposure to volatility.

“At 3%, you are not taking a huge risk,” Meyer stated. “If you look at a balanced portfolio, if you introduce 3%, you already boost the performance.”

A Rare Decision Among European Banks

BBVA’s recommendation is especially interesting, considering the regulatory climate in the European Union.

Over the years, most banks in the EU have distanced themselves from digital assets.

Earlier this year, the European Securities and Markets Authority (ESMA) reported that 95% of EU banks do not engage in crypto activities.

Moreover, EU regulators and the European Central Bank continue to warn clients about the risks of investing in digital assets and have often stated that investors who choose to invest should be prepared to lose it all.

Despite this caution, BBVA is charting its own course.

Meyer believes the bank is one of the first large financial institutions around the world to take such a big step towards Bitcoin.

While many private banks are willing to perform crypto trades at their clients’ requests, few are willing to actively advise on them.

From Trading Execution to Strategic Advice

BBVA is no stranger to digital assets. The bank has been actively involved in crypto trades since 2021.

However, it wasn’t until late 2024 that it transitioned from merely executing trades to offering actual advice.

This progression shows a willingness from the bank to introduce crypto into its suite of wealth management services.

In March of this year, BBVA received regulatory approval from Spain’s securities watchdog to offer trading services for Bitcoin and Ether.

In addition to BBVA, Santander, another major Spanish bank, is reportedly planning to issue its own stablecoins.

According to a May 2025 report, Santander is considering launching stablecoins pegged to both the U.S. dollar and the euro.

If realized, this move would complement BBVA’s crypto trading services. It would give Spanish banking clients access to both volatile and stable cryptos within Spain.

Overall, BBVA’s decision to actively advise wealthy clients on crypto investments shows a step forward for mainstream crypto adoption.

While it remains to be seen how many banks will follow BBVA’s lead, crypto is shifting strongly from being a mere fringe asset class.

It is more and more becoming part of mainstream portfolio strategies.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.