According to Reuters, Spain's second-largest bank BBVA has stated that its private banking division will begin offering Bitcoin investment advice to high-net-worth clients starting in September 2024. It currently recommends that clients allocate 3% to 7% of their portfolios to cryptocurrencies based on their risk preferences. Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, stated at the London DigiAssets conference that this advice currently applies to Bitcoin and Ethereum, with plans to cover more crypto assets in the future.