BBVA Spain Encourages Wealthy Clients to Invest in Crypto, What’s the Strategy?

Jakarta, Pintu News – Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain, recently advised their wealthy clients to allocate between 3% to 7% of their investment portfolio into cryptocurrencies such as Bitcoin (BTC).

This suggestion was made by the bank’s executive, Philippe Meyer, during a conference in London. BBVA began offering crypto trading in 2021 and started advising their wealthy clients to invest in crypto in September 2024.

This move marks a significant difference from most other European banks that still avoid crypto due to its risks.

What was said at the London Conference?

At the conference, Meyer emphasized that adding around 3% investment in crypto can increase portfolio returns without adding excessive risk. He also stated that many clients are open to the idea, despite concerns about the volatility of the crypto market.

BBVA’s approach is supported by the European Union’s new regulation known as MiCA, which comes into full effect in December 2024, providing a clearer and safer framework for crypto operations. In March 2025, Spanish regulators granted BBVA permission to offer Bitcoin (BTC) and Ethereum (ETH) trading to some of their clients.

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Plans to add crypto features to the bank’s mobile app are also in the pipeline. This move is part of BBVA’s efforts to continuously innovate and meet the needs of their clients who are increasingly diverse and inclined to adopt new technologies.

BBVA Initiative

According to the European Financial Authority (ESMA), BBVA’s initiative sets it apart from the other 95% of European banks that are still avoiding crypto. This policy shows the growing confidence of major banks in cryptocurrencies and their potential.

It also marks a change in attitude among traditional financial institutions towards crypto, which was previously considered too risky and speculative. Another Spanish bank, Santander, is also exploring crypto, with plans to create their own stablecoin tied to the dollar and euro.

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Santander also plans to offer more crypto services to its customers. These moves show that the banking sector in Europe is gradually starting to integrate crypto into their products and services, reflecting a broader global trend in the adoption of blockchain technology and digital currencies.

How did the Regulators Respond?

Despite positive encouragement from some major banks, EU regulators and the European Central Bank continue to warn about the dangers associated with crypto. They emphasize the importance of strict regulation and a deep understanding of crypto products before making an investment.

This is important to protect investors from high market volatility and other risks associated with digital assets. However, with the MiCA rules providing a clearer framework, it is expected that there will be more clarity and security in crypto transactions.

This could encourage more European banks to start offering similar services, thus expanding the acceptance of crypto as part of mainstream investment options. BBVA’s move may be a turning point in how traditional financial institutions view and manage digital currencies.

Conclusion

BBVA’s recommendation to allocate a portion of its portfolio to crypto represents an important shift in investment strategy among major banks. It not only marks a wider acceptance of digital currencies as investment assets but also highlights the importance of innovation in responding to changing market dynamics. With adequate regulation and a prudent approach, crypto investments can be a valuable addition to an investor’s portfolio.

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Reference

• Crypto Times. Spain’s BBVA Advises Rich Clients to Allocate 3.7% to Crypto. Accessed on June 19, 2025
• Featured image: BBVA