Latest news with #DigiAssets
Yahoo
3 days ago
- Business
- Yahoo
Spain's BBVA Is Advising Clients to Invest Up to 7% of Portfolio in BTC, ETH: Reuters
Spanish lender BBVA is advising its wealth clients to invest 3%-7% of their portfolios in cryptocurrencies, an executive of the Spanish bank said on Tuesday. The bank's head of digital and blockchain solutions Philippe Meyer told the DigiAssets conference in London that it started advising clients on bitcoin BTC in September last year, according to a report by Reuters. "The riskier profile, we allow up to 7% of (portfolios in) crypto," Meyer said. BBVA's advice of investing in crypto currently applies to bitcoin and ether ETH, but the bank plans to expand this to other cryptocurrencies later this year, he added. While many major financial institutions are showing a distinctly warmer attitude toward cryptocurrency investments in 2025 than in years past, BBVA's news is noteworthy in that it is actively advising its clients to buy crypto. BBVA did not immediately respond to CoinDesk's request for comment.
Yahoo
5 days ago
- Business
- Yahoo
Spanish bank BBVA tells wealthy clients to invest in bitcoin
By Iain Withers LONDON (Reuters) -Spanish lender BBVA is advising wealthy clients to invest up to 7% of their portfolio into cryptocurrencies, an executive said on Tuesday, in the latest sign some banks are warming to a sector long avoided by mainstream finance because of its risks. BBVA's private bank advises clients to invest 3% to 7% of their portfolio in cryptocurrencies depending on their risk appetite, Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland, told the DigiAssets conference in London. "With private customers, since September last year, we started advising on bitcoin," Meyer said. "The riskier profile, we allow up to 7% of (portfolios in) crypto." Cryptocurrency prices have surged in recent years, with bitcoin hitting another record high in May. That follows a recovery from lows hit in 2022 when a series of top exchanges, including FTX, collapsed, leaving millions of investors out of pocket. Their rebound has been helped by U.S. President Donald Trump's pro-crypto stance. While many private banks execute client requests to buy cryptocurrencies, it is relatively unusual for them to advise them to actively buy them. Regulators continue to warn about the risks of cryptocurrencies, saying investors should expect to lose all their money. The European Securities and Markets Authority said earlier this year that 95% of EU banks do not engage in crypto activities. Speaking to Reuters on the sidelines of the event, Meyer told Reuters he believed BBVA was one of the first large global banks to advise its wealthy clients to buy cryptocurrencies. It had been executing on client requests to buy them since 2021, he said. The 3-7% advice currently applies to bitcoin and ether, but BBVA plans to expand the advice to other cryptocurrencies later this year, he said. Meyer said that clients had been receptive so far to the advice, and dismissed concerns the asset was too risky. "If you look at a balanced portfolio, if you introduce 3% you already boost the performance," Meyer said. "At 3% you are not taking a huge risk."
CNA
5 days ago
- Business
- CNA
Spanish bank BBVA tells wealthy clients to invest in bitcoin
LONDON :Spanish lender BBVA is advising wealthy clients to invest up to 7 per cent of their portfolio into cryptocurrencies, an executive said on Tuesday, in the latest sign some banks are warming to a sector long avoided by mainstream finance because of its risks. BBVA's private bank advises clients to invest 3 per cent to 7 per cent of their portfolio in cryptocurrencies depending on their risk appetite, Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland, told the DigiAssets conference in London. "With private customers, since September last year, we started advising on bitcoin," Meyer said. "The riskier profile, we allow up to 7 per cent of (portfolios in) crypto." Cryptocurrency prices have surged in recent years, with bitcoin hitting another record high in May. That follows a recovery from lows hit in 2022 when a series of top exchanges, including FTX, collapsed, leaving millions of investors out of pocket. Their rebound has been helped by U.S. President Donald Trump's pro-crypto stance. While many private banks execute client requests to buy cryptocurrencies, it is relatively unusual for them to advise them to actively buy them. Regulators continue to warn about the risks of cryptocurrencies, saying investors should expect to lose all their money. The European Securities and Markets Authority said earlier this year that 95 per cent of EU banks do not engage in crypto activities. Speaking to Reuters on the sidelines of the event, Meyer told Reuters he believed BBVA was one of the first large global banks to advise its wealthy clients to buy cryptocurrencies. It had been executing on client requests to buy them since 2021, he said. The 3-7 per cent advice currently applies to bitcoin and ether, but BBVA plans to expand the advice to other cryptocurrencies later this year, he said. Meyer said that clients had been receptive so far to the advice, and dismissed concerns the asset was too risky. "If you look at a balanced portfolio, if you introduce 3 per cent you already boost the performance," Meyer said. "At 3 per cent you are not taking a huge risk."
Yahoo
5 days ago
- Business
- Yahoo
Spanish bank BBVA tells wealthy clients to invest in bitcoin
By Iain Withers LONDON (Reuters) -Spanish lender BBVA is advising wealthy clients to invest up to 7% of their portfolio into cryptocurrencies, an executive said on Tuesday, in the latest sign some banks are warming to a sector long avoided by mainstream finance because of its risks. BBVA's private bank advises clients to invest 3% to 7% of their portfolio in cryptocurrencies depending on their risk appetite, Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland, told the DigiAssets conference in London. "With private customers, since September last year, we started advising on bitcoin," Meyer said. "The riskier profile, we allow up to 7% of (portfolios in) crypto." Cryptocurrency prices have surged in recent years, with bitcoin hitting another record high in May. That follows a recovery from lows hit in 2022 when a series of top exchanges, including FTX, collapsed, leaving millions of investors out of pocket. Their rebound has been helped by U.S. President Donald Trump's pro-crypto stance. While many private banks execute client requests to buy cryptocurrencies, it is relatively unusual for them to advise them to actively buy them. Regulators continue to warn about the risks of cryptocurrencies, saying investors should expect to lose all their money. The European Securities and Markets Authority said earlier this year that 95% of EU banks do not engage in crypto activities. Speaking to Reuters on the sidelines of the event, Meyer told Reuters he believed BBVA was one of the first large global banks to advise its wealthy clients to buy cryptocurrencies. It had been executing on client requests to buy them since 2021, he said. The 3-7% advice currently applies to bitcoin and ether, but BBVA plans to expand the advice to other cryptocurrencies later this year, he said. Meyer said that clients had been receptive so far to the advice, and dismissed concerns the asset was too risky. "If you look at a balanced portfolio, if you introduce 3% you already boost the performance," Meyer said. "At 3% you are not taking a huge risk." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 days ago
- Business
- Reuters
Spanish bank BBVA tells wealthy clients to invest in bitcoin
LONDON, June 17 (Reuters) - Spanish lender BBVA ( opens new tab is advising wealthy clients to invest up to 7% of their portfolio into cryptocurrencies, an executive said on Tuesday, in the latest sign some banks are warming to a sector long avoided by mainstream finance because of its risks. BBVA's private bank advises clients to invest 3% to 7% of their portfolio in cryptocurrencies depending on their risk appetite, Philippe Meyer, head of digital & blockchain solutions at BBVA Switzerland, told the DigiAssets conference in London. "With private customers, since September last year, we started advising on bitcoin," Meyer said. "The riskier profile, we allow up to 7% of (portfolios in) crypto." Cryptocurrency prices have surged in recent years, with bitcoin hitting another record high in May. That follows a recovery from lows hit in 2022 when a series of top exchanges, including FTX, collapsed, leaving millions of investors out of pocket. Their rebound has been helped by U.S. President Donald Trump's pro-crypto stance. While many private banks execute client requests to buy cryptocurrencies, it is relatively unusual for them to advise them to actively buy them. Regulators continue to warn about the risks of cryptocurrencies, saying investors should expect to lose all their money. The European Securities and Markets Authority said earlier this year that 95% of EU banks do not engage in crypto activities. Speaking to Reuters on the sidelines of the event, Meyer told Reuters he believed BBVA was one of the first large global banks to advise its wealthy clients to buy cryptocurrencies. It had been executing on client requests to buy them since 2021, he said. The 3-7% advice currently applies to bitcoin and ether, but BBVA plans to expand the advice to other cryptocurrencies later this year, he said. Meyer said that clients had been receptive so far to the advice, and dismissed concerns the asset was too risky. "If you look at a balanced portfolio, if you introduce 3% you already boost the performance," Meyer said. "At 3% you are not taking a huge risk."
