Spanish lender BBVA is advising its wealth shoppers to speculate 3%-7% of their portfolios in cryptocurrencies, an government of the Spanish financial institution mentioned on Tuesday.
The financial institution’s head of digital and blockchain options Philippe Meyer informed the DigiAssets convention in London that it began advising shoppers on bitcoin
in September final yr, according to a report by Reuters.
“The riskier profile, we permit as much as 7% of (portfolios in) crypto,” Meyer mentioned.
BBVA’s recommendation of investing in crypto at the moment applies to bitcoin and ether
, however the financial institution plans to broaden this to different cryptocurrencies later this yr, he added.
Whereas many main monetary establishments are exhibiting a distinctly hotter perspective towards cryptocurrency investments in 2025 than in years previous, BBVA’s information is noteworthy in that it’s actively advising its shoppers to purchase crypto.
BBVA didn’t instantly reply to CoinDesk’s request for remark.