Bank of America backs 1%–4% crypto allocation, opens door to Bitcoin ETFs

Bank of America, the second-largest US bank, has reportedly advised its wealth management clients across its Merrill, Private Bank, and Merrill Edge platforms to consider a modest 1% to 4% allocation to digital assets, provided they are comfortable with elevated volatility. This guidance, shared by Chief Investment Officer Chris Hyzy, emphasizes regulated vehicles and thoughtful risk management. Furthermore, starting January 5th, the bank will enable clients to access four new spot Bitcoin ETFs, including those from BlackRock, Fidelity, and Bitwise, which were previously only available upon request for the wealthiest clients. This move signals a growing institutional appetite for regulated digital asset products, following similar recommendations from firms like BlackRock, Fidelity, and Morgan Stanley for modest, risk-managed crypto exposure.

(Source：Cointelegraph)