BBVA recommends wealthy clients allocate up to 7% of their portfolios into cryptocurrencies, signaling a notable shift in traditional banking attitudes.
Spanish banking leader BBVA has begun actively advising its wealthy clients to invest in major cryptocurrencies such as Bitcoin and Ethereum. Philippe Meyer, Head of Digital and Blockchain Solutions at BBVA Switzerland, stated at the DigiAssets conference in London that the bank recommends allocating between 3% and 7% of clients' portfolios into crypto assets, depending on their individual risk tolerance. Meyer highlighted that those with a higher risk appetite could invest up to 7%.
This bold initiative positions BBVA as one of the first major banks globally to openly suggest crypto investments to affluent clients. Meyer added that although current recommendations are limited to Bitcoin and Ethereum, there are plans to expand the scope to include other cryptocurrencies later this year. He also emphasized that even a modest 3% crypto allocation could significantly enhance a balanced portfolio’s performance without posing substantial risks.
Despite ongoing regulatory warnings about crypto risks, BBVA's move is widely viewed as a strong indicator of a fundamental shift in the traditional financial sector's perspective towards cryptocurrencies.
