Bank of America Backs 4% Crypto Allocation for Wealth Clients as Wall Street Embraces Bitcoin
Bank of America now recommends a 1% to 4% crypto allocation for its wealth management clients across Merrill and Private Bank.Summary
Bank of America is advising its wealth management clients, including those at Merrill, Bank of America Private Bank, and Merrill Edge, to consider allocating between 1% and 4% of their portfolios to digital assets. This policy change, effective January 5, coincides with the bank's chief investment office beginning formal research coverage of four specific Bitcoin ETFs, including BlackRock's IBIT. The move allows over 15,000 advisers to proactively discuss digital assets, though Bank of America Private Bank CIO Chris Hyzy stressed a measured approach emphasizing regulated products and awareness of volatility. This aligns Bank of America with peers like Morgan Stanley and Fidelity, who have also integrated crypto allocations into their wealth strategies due to growing client interest.
(Source：Bitcoin Magazine)