In a move that would have seemed preposterous just a few years ago—when Bitcoin was still dismissed by traditional finance as digital fool’s gold—Spain’s BBVA has begun advising its high-net-worth clients to allocate between 3% and 7% of their portfolios to cryptocurrencies, marking one of the first instances of a major global bank actively recommending Bitcoin and Ether investments.
Spain’s BBVA now recommends 3-7% crypto allocation to wealthy clients—a remarkable shift from Bitcoin’s “digital fool’s gold” reputation.
The allocation framework operates on a risk-appetite sliding scale, with conservative clients receiving the 3% recommendation while those with higher risk tolerance can venture up to 7%.
BBVA’s private banking division positions this as a performance enhancer rather than a speculative gamble, arguing that a modest 3% crypto allocation can boost returns without introducing catastrophic portfolio risk—a claim that would have triggered compliance apoplexy in most boardrooms circa 2020. By incorporating cryptocurrencies alongside traditional investments, the bank emphasizes how spreading investments across different asset types can help minimize the impact of any single underperforming asset on overall portfolio performance.
This strategic pivot represents a remarkable institutional evolution.
BBVA has been fielding client crypto requests since 2021, began actively dispensing Bitcoin advice in September 2024, and secured regulatory approval for Bitcoin and Ether trading services in Spain by March 2025.
The phased rollout initially targets select clients, with plans to integrate digital asset management directly into the bank’s mobile platform.
The broader regulatory landscape remains decidedly frosty, with 95% of EU banks avoiding crypto entirely according to the European Securities and Markets Authority, while regulators continue issuing stark warnings about potential total losses.
Yet BBVA’s bold stance—coupled with cryptocurrency prices recovering from their 2022 nadir—suggests a calculated bet on mainstream acceptance gaining momentum. The timing coincides with Bitcoin reaching all-time highs in May following a significant rebound from 2022 market lows.
Client reception has reportedly been positive, despite lingering risk concerns.
The bank’s approach treats cryptocurrencies as a legitimate asset class for portfolio diversification rather than mere speculation, a philosophical shift that could influence other major financial institutions currently observing from the sidelines.
BBVA’s pioneering role in this space positions it uniquely as traditional finance grapples with digital assets’ persistent market presence.
Whether this proves prescient strategy or premature capitulation to crypto enthusiasm remains to be seen, but the bank has certainly planted its flag in previously uncharted institutional territory, signaling that the cryptocurrency conversation has definitively moved from the fringes to the executive suite.
