BBVA, Spain's second-largest bank, advises affluent clients to allocate between 3% and 7% of their portfolios to cryptocurrencies, including Bitcoin. The guidance comes just months after Spanish regulators approved the bank's crypto trading services.

According to Philippe Meyer, head of digital and blockchain solutions at BBVA Switzerland, the bank has been advising wealthy clients on Bitcoin since September 2024. He noted that a modest crypto allocation can improve portfolio performance without taking on excessive risk.

Client response, he added, has been largely positive.

BBVA has executed crypto trades since 2021 and began active advisory services in late 2024. In March, Spain's securities regulator authorised BBVA to offer trading in Bitcoin and Ether, with full mobile integration expected in the coming months.

The move aligns with the broader rollout of the EU's Markets in Crypto-Assets Regulation (MiCA), which occurred at the end of 2024. Meanwhile, Santander is reportedly exploring the launch of euro and dollar-pegged stablecoins to expand its retail crypto services.