BBVA, Spain's second-largest bank, has recommended that its affluent clients invest 3% to 7% of their portfolios in cryptocurrencies, including Bitcoin (BTC), based on their risk tolerance. Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, stated that since September, the bank has been advising private clients on Bitcoin investments, and the allocation for riskier profiles has increased. Meyer noted that clients have been open to this advice, arguing that even a 3% allocation can enhance portfolio performance without significant risk. This guidance comes despite ongoing warnings from EU regulators about crypto risks, with 95% of EU banks steering clear of crypto activities, according to the European Securities and Markets Authority (ESMA). BBVA has been facilitating crypto trades since 2021 and began active advisory services in late 2024. The bank's crypto services, which allow clients to buy, sell, and manage digital assets via its app, were launched in phases and align with the recent implementation of the EU's Markets in Crypto-Assets Regulation (MiCA). Read more AI-generated news on: https://app.chaingpt.org/news

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