Spain’s second-largest bank, BBVA, has recently advised its affluent clients to allocate between 3% and 7% of their investment portfolios to cryptocurrencies, particularly Bitcoin (BTC), depending on their risk tolerance.
This recommendation follows BBVA’s regulatory approval in Spain to offer crypto trading services, marking a significant shift for a traditional financial institution in the European market.
Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, revealed at a London conference that since September 2024, the bank has been advising private clients on Bitcoin investments. He noted that the suggested portfolio allocation has increased for clients with higher risk profiles. Meyer emphasised that even a 3% allocation to crypto assets can enhance portfolio performance without exposing investors to excessive risk.
BBVA’s move is notable amid a cautious regulatory environment in the European Union. Despite warnings from EU regulators and the European Central Bank about the risks associated with cryptocurrencies, BBVA is among the few banks actively embracing crypto. According to the European Securities and Markets Authority (ESMA), approximately 95% of EU banks currently avoid engaging in crypto activities.
The bank’s expansion into crypto trading was facilitated by Spain’s securities regulator, which authorised BBVA in March 2025 to offer Bitcoin and Ethereum (ETH) trading. BBVA has been executing crypto trades since 2021 but only recently began actively advising clients. The bank plans to enable users to buy, sell, and manage digital assets through its mobile app in the near future.
This development coincides with the full implementation of the European Markets in Crypto-Assets Regulation (MiCA) at the end of 2024, which establishes a regulatory framework for crypto activities across the EU. Crypto companies have until July 2026 to comply fully with MiCA’s requirements, which aim to enhance investor protection and market integrity.\
Other major Spanish banks, such as Santander, are also exploring crypto opportunities, including the potential issuance of stablecoins pegged to the US dollar and euro, signalling growing institutional interest in digital assets within Spain’s banking sector.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
