BBVA, a leading Spanish bank, is advising its wealthiest clients to allocate between 3% to 7% of their portfolios to Bitcoin, tailored to their individual risk appetites.

Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA Switzerland, confirmed that this investment advice has been in place since September 2024.

The bank's Bitcoin trading and custody services were launched through its Swiss subsidiary in June 2021, positioning BBVA as a frontrunner in blockchain technology.

This recommendation comes amid a significant surge in cryptocurrency prices, with Bitcoin reaching a record high in May 2025, recovering from lows in 2022, partly due to a pro-crypto stance from former U.S. President Donald Trump.

BBVA's move reflects a broader trend among traditional financial institutions to embrace cryptocurrency investments, despite warnings from the European Securities and Markets Authority regarding potential risks.

Meyer emphasized that even a modest 3% allocation to cryptocurrency can enhance portfolio performance without significantly increasing risk, a sentiment that has been well-received by clients.

BBVA's proactive stance on digital currencies sets it apart from many peers that have been hesitant to engage with Bitcoin, culminating in this formal investment recommendation.

The mainstreaming of digital assets has been a key trend in banking during the first half of 2025, with institutions like JPMorgan Chase and Banco Santander also exploring cryptocurrency offerings.

In a related development, JPMorgan has announced it will allow clients to buy and hold Bitcoin, marking a notable shift from its previous skepticism towards digital assets.

Currently, BBVA's advisory services focus on Bitcoin and Ethereum, with plans to expand to other cryptocurrencies later in 2025.

The bank has initiated cryptocurrency trading services, initially for select private clients, with intentions to broaden access to all private banking customers in Spain.

BBVA's interest in Bitcoin dates back to 2015, when it predicted that institutions embracing digital currencies would lead the future monetary system, raising questions about whether it is now ahead of the curve.