The suggested allocation depends on an investor\u2019s risk appetite, said Philippe Meyer, Head of Digital & Blockchain Solutions at BBVA Switzerland. Speaking at the DigiAssets conference in London, Meyer revealed that the bank has been advising its private clients on BTC investment since September 2024.<\/p>\n
\n\u201cThe riskier profile, we allow up to 7% of crypto,\u201d Meyer noted.<\/p>\n<\/blockquote>\n
The Spanish lender announced announced plans to offer crypto trading and custody services to customers in Spain. The initial rollout allowed a select group of private clients to purchase Bitcoin Bitcoin and Ethereum (ETH), with full access gradually expanding to all private banking customers.<\/p>\n
<\/p>\n
BBVA\u2019s move to actively recommend crypto exposure aligns with a growing trend among traditional financial institutions.<\/p>\n
Notably, the European Securities and Markets Authority has previously warned that crypto could pose risks to the global financial stability. An ESMA report also noted that most EU banks do not engage in crypto activities. Despite this, the overall sentiment is that more and more are willing to make a foray. Market experts believe its a matter of time before banks begin to stockpile Bitcoin.<\/p>\n
BBVA, on its part, has executed client requests for BTC purchases since 2021 when it launched bitcoin trading for private clients in Switzerland.<\/p>\n
Elsewhere in the industry, JPMorgan recently announced it would allow clients to buy and hold Bitcoin. While CEO Jamie Dimon has long been a vocal crypto skeptic, he acknowledged earlier this year that he would defend the right of the bank\u2019s customers to access digital assets.<\/p>\n
JPMorgan has also said it will accept spot Bitcoin exchange-traded funds (ETFs) as collateral for loans to wealthy clients. BlackRock\u2019s BTC ETF will reportedly be the first accepted for this initiative.<\/p>\n
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