Spanish lender BBVA is advising its wealth clients to invest 3%-7% of their portfolios in cryptocurrencies, an executive of the Spanish bank said on Tuesday.
The bank’s head of digital and blockchain solutions Philippe Meyer told the DigiAssets conference in London that it started advising clients on bitcoin BTC in September last year, according to a report by Reuters.
“The riskier profile, we allow up to 7% of (portfolios in) crypto,” Meyer said.
BBVA’s advice of investing in crypto currently applies to bitcoin and ether ETH, but the bank plans to expand this to other cryptocurrencies later this year, he added.
While many major financial institutions are showing a distinctly warmer attitude toward cryptocurrency investments in 2025 than in years past, BBVA’s news is noteworthy in that it is actively advising its clients to buy crypto.
BBVA did not immediately respond to CoinDesk’s request for comment.