BBVA Urges Wealthy Clients to Allocate Up to 7% in Crypto Despite EU Bank Hesitation

BBVA, Spain’s second-largest bank, is advising its wealthy clients to allocate 3% to 7% of their investment portfolios to crypto assets like Bitcoin (BTC).

This guidance comes months after Spanish regulators approved the bank’s crypto trading services.

At a London conference, Philippe Meyer, who leads digital and blockchain solutions at BBVA Switzerland, said, “With private customers, since September last year, we started advising on Bitcoin.”

He added that the suggested crypto exposure recently increased for clients with higher risk profiles.

Meyer noted that clients responded positively to this recommendation. He explained that a small allocation—starting at 3%—can influence portfolio performance without creating major risk.

BBVA Bitcoin and Ether Trading Approved in Spain in March 2025

In March 2025, Spain’s Comisión Nacional del Mercado de Valores (CNMV) allowed BBVA to offer Bitcoin and Ether (ETH) trading to clients in Spain. The approval followed BBVA’s earlier crypto activity, which began in 2021 with execution-only trades.

Now, BBVA offers crypto trading services through a phased rollout. First, the bank selected a small group of clients to access the platform.

Over the coming months, users will manage their crypto holdings directly through BBVA’s mobile application.

This makes BBVA crypto services more accessible to private banking customers. The system combines traditional asset management with blockchain-based asset exposure, offering tools inside the same interface.

A photo released earlier this year showed Philippe Meyer presenting BBVA’s blockchain outlook at a March 2025 conference in Lugano, Switzerland. His speech explained the bank’s crypto focus during the early stages of its advisory expansion.

BBVA Crypto Offerings Move Forward Under MiCA Crypto Law

The expansion of BBVA crypto services began just as the MiCA crypto law reached full application across the European Union in late 2024.

MiCA stands for Markets in Crypto-Assets Regulation and governs all crypto activities across EU member states.

MiCA includes an 18-month transition period ending in July 2026, during which crypto firms must bring their operations into compliance. BBVA Bitcoin and BBVA crypto advisory activities are taking place within this transition period.

While BBVA is moving ahead, other European banks remain cautious. According to the European Securities and Markets Authority (ESMA), 95% of banks in the EU avoid crypto-related services. This includes both trading and direct customer advisory.

Despite that figure, BBVA crypto actions now include regulated services in Switzerland and Spain, positioning it among the few banks in the EU offering structured crypto exposure for clients.

Santander Considers Stablecoin Plans Amid Spain Crypto Regulation

Santander, another major Spanish bank, is also working on limited crypto services.

A May 2025 report showed that the bank is studying plans to launch its own stablecoins, with value pegged to both the U.S. dollar and the euro.

The bank has not confirmed a launch date or received regulatory clearance like BBVA, but its interest in stablecoins signals possible expansion under the Spain crypto regulation framework and the MiCA crypto law.

While Santander’s crypto strategy remains in development, BBVA Bitcoin trading and BBVA crypto advisory services have already started operating under regulated conditions. The rollout strategy focuses on high-net-worth clients and compliance with EU laws.

BBVA’s progress under the MiCA crypto law stands in contrast to the broader banking sector’s limited involvement. Most EU institutions still avoid direct crypto exposure.

Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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