At a recent DigiAssets conference in London, Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA Switzerland, revealed that the bank now recommends its private banking clients invest 3% to 7% of their portfolios in cryptocurrencies—primarily Bitcoin (BTC) and Ethereum (ETH).
Meyer explained the recommendation is tailored to client risk profiles:
“With private customers, since September last year, we started advising on Bitcoin,” Meyer said.
“The riskier profile, we allow up to 7% of (portfolios in) crypto.”
He emphasized that even small allocations can enhance portfolio performance without dramatically increasing risk:
“If you look at a balanced portfolio, if you introduce 3%, you already boost the performance. At 3% you are not taking a huge risk.”
This is a significant departure from bank silence on crypto investment strategies, demonstrating growing institutional confidence in digital assets.
The Case for a Modest Crypto Allocation
BBVA Switzerland’s guidance draws on established theories of risk-adjusted diversification.
Bitcoin is viewed as a non-correlated asset that can help protect against macroeconomic fluctuations, while Ethereum is valued for its utility in smart contracts, DeFi, and emerging token economy infrastructure.
Meyer also noted that crypto adoption in high-net-worth portfolios began in 2021, but formal allocation advice only emerged following stabilization in the regulatory landscape and a recovery in market sentiment.
Self-Custody vs. Bank Custody:
BBVA offers bank-managed custody services through its Swiss operations, leveraging regulated infrastructure to hold client assets.
However, even with institutional-grade custody, investors should consider the benefits of self-custody—especially when dedicating a meaningful portion of their portfolio to crypto.
Benefits of Self-Custody
Full ownership: You control your private keys—no intermediary can freeze or restrict access. Some banks have restricted or frozen access to crypto-linked accounts during periods of regulatory uncertainty.
Enhanced privacy: Your holdings are not exposed to third-party reporting or scrutiny.
Operational resilience: If a custodial platform faces technical issues, bankruptcy, or regulatory pressure, self-custody preserves uninterrupted access.
Lower Fees: When using a self-custody wallet, you can transact directly in crypto without needing to pay management charges, or foreign exchange markups often imposed by banks or wealth advisors.
Philippe Meyer on Crypto’s Growing Role in Finance
Meyer has previously argued that crypto is evolving into a mainstream asset class. In 2024 he said:
“Cryptos are becoming assets like any others.”
He highlighted that infrastructure improvements—such as the arrival of US spot Bitcoin ETFs and more robust custody solutions—have transformed crypto from speculative novelty into a strategic portfolio component.
Could Santander Be Next?
BBVA’s recommendation of a 3% to 7% crypto allocation represents a milestone: traditional banks now see digital assets not just as a speculative toy, but as instruments for diversification and modern portfolio construction.
This move could set a precedent for other major European banks—including Santander, Spain’s largest bank—which has so far remained more cautious on digital assets.
As client demand increases and regulatory clarity improves, it’s possible that Santander and others may soon follow BBVA’s lead with similar allocation strategies or custody offerings.
Investors adopting BBVA’s guidance should consider pairing their allocation with self-custody solutions to ensure control, security, and autonomy in managing their own crypto exposure.
Best Crypto Wallet To Invest With
As regulatory clarity improves in Spain and other countries around the world, demand for decentralized, self-custody wallet solutions is already picking up, particularly among investors seeking full control over their crypto finances.
This category of wallets not only give users complete autonomy in managing their crypto exposure, but also allow them to trade or invest seamlessly without providing any personal data.
Among the top options in this niche is Best Wallet, a versatile non-custodial wallet brand with over 500,000 users and an impressive 50% MoM growth rate. What makes Best Wallet particularly attractive is that it allows users to store, stake, and trade assets freely without undergoing any tedious KYC identification.
Security is another major factor that positions this wallet as one of the best self-custody solutions to invest with. While other decentralized cryptocurrency wallets leave the entire security of assets up to the user, Best Wallet provides something extra through Fireblocks.
Fireblocks insures the crypto assets stored inside the wallet facility without compromising accessibility.
Other than its security-focused design, Best Wallet also stands out with its On-ramp facility through which users can buy their favorite cryptocurrencies using fiat. This approach is essentially appealing to newcomers looking to get into crypto with ease.
Also setting it apart from competitors is its multichain feature, which allows users to trade thousands of cryptocurrencies and explore many high-yield staking opportunities. And for those chasing 10x to 100x returns with promising early-stage projects, Best Wallet’s “Upcoming Tokens” tool is built just for that. It lets investors spot and invest in these assets before they are made public.
Considering the important of this tool in a fast-paced crypto market, it’s no surprise that many self-custody believers are rallying behind Best Wallet to maximize their returns in 2025.
Download Best Wallet
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