BBVA Advises Wealth Clients to Invest Up to 7% in Crypto
BBVA is advising its wealth clients to allocate 3%-7% of their portfolios to cryptocurrencies. Philippe Meyer, the bank's head of digital and blockchain solutions, announced this at the DigiAssets conference in London.
- The advisory began in September last year with a focus on bitcoin and ether.
- For clients with a riskier profile, an allocation of up to 7% in crypto is recommended.
- BBVA plans to extend this advice to additional cryptocurrencies later this year.
This marks a significant shift as major financial institutions are increasingly endorsing cryptocurrency investments.