Since late 2024, BBVA's private-banking division in Switzerland has strategically advised its high-net-worth clients to integrate cryptocurrencies like Bitcoin and Ether into their investment portfolios. Philippe Meyer, who spearheads digital and blockchain solutions at BBVA Switzerland, suggests that wealthy individuals consider allocating between 3% and 7% of their holdings to digital assets. This guidance is designed to enhance portfolio returns while meticulously managing and mitigating potential risks, reflecting a forward-thinking approach to wealth management.

The journey into crypto for BBVA began with executing trades for a select group of clients as early as 2021. By September 2024, the bank had formalized its recommendations, initially advising a 3% Bitcoin stake for balanced portfolios. Demonstrating increasing confidence in cryptocurrencies as a legitimate and mainstream asset class, BBVA now permits risk-tolerant clients to allocate up to 7% to digital assets, marking a significant step in the integration of crypto into traditional finance.

Client reception to these new recommendations has been largely positive. Meyer observes that even a modest 3% allocation can notably boost a diversified portfolio's performance without exposing investors to excessive risk. While acknowledging the inherent volatility of crypto markets, where values can fluctuate by 20% in a single week, private clients appear prepared to navigate these short-term swings in pursuit of long-term gains and amplified returns.

In the broader regulatory and market context, BBVA stands out significantly. Europe's Markets in Crypto-Assets (MiCA) regulation became fully effective at the end of December 2024, establishing a comprehensive rulebook for token issuers and service providers across the EU. Despite this, the European Securities and Markets Authority indicates that a vast majority, approximately 95%, of EU banks, continue to avoid crypto-related activities entirely. BBVA, however, has taken a divergent path; in March 2025, Spain's securities regulator granted it formal approval to offer Bitcoin and Ether trading within the country, solidifying its pioneering role.

Looking ahead, BBVA is poised to further embed crypto services by rolling out buy, sell, and comprehensive portfolio management features directly within its existing mobile application in the coming months. This phased launch will commence with selected clients before a wider rollout. As other financial institutions, such as Santander, explore their own stablecoin initiatives, BBVA's bold move could catalyze a broader wave of mainstream crypto service adoption across the banking sector. While this crypto advice is currently exclusive to high-net-worth clients, a successful track record of solid returns and resilience during market downturns could inspire other banks to follow suit, thereby expanding access to crypto investments alongside conventional assets like stocks, bonds, and real estate. The ultimate validation of BBVA's cautious strategy will occur when Bitcoin or Ether experience sharp declines, testing the robustness of its approach and potentially reshaping the landscape of how mainstream finance perceives and integrates digital assets.