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BBVA, a major Spanish banking institution, is now recommending cryptocurrency investments to its affluent clients. According to Reuters, the bank has advised allocating 3% to 7% of portfolios to Bitcoin and Ethereum.
Reflecting a shift from previous caution, the investment range is based on individual risk tolerance levels and signals active endorsement of crypto assets.
BBVA is among the first central European banks to formally promote digital assets. Most other institutions in the region have continued to distance themselves from cryptocurrencies.
Headquartered in Bilbao, the bank holds around $700 billion in assets under management and serves approximately 80 million clients globally.
Over 95% of banks within the European Union have not adopted crypto strategies. BBVA’s action stands out in a market that is still reluctant to embrace digital currencies.
Its decision to provide clients with specific percentage guidance indicates a more structured approach. This differs from vague references that have been common in the industry.
