Investors Should Hold 4% Bitcoin in Portfolio, Says Bank of America, as BTC Soars Above $92K

Bank of America is advising its wealth management clients to consider holding up to 4% of their portfolios in Bitcoin and other digital assets, a significant move indicating increasing acceptance of cryptocurrencies within traditional finance. This guidance coincides with Bitcoin's price surge above $92,000 and the bank's plan to cover four spot Bitcoin ETFs – Bitwise, Fidelity, Grayscale, and BlackRock – beginning in January. Chris Hyzy, Bank of America Private Bank’s chief investment officer, suggests a 1-4% allocation for investors comfortable with volatility, with lower percentages for conservative investors. Recent net inflows into Bitcoin and Ethereum ETFs, following weeks of outflows, suggest renewed institutional interest. This shift mirrors a broader trend among major financial institutions like JPMorgan and Citi, who are also expanding their involvement in the crypto space through blockchain-based products and custody platforms. Bank of America’s move is expected to broaden Bitcoin’s investor base and further boost the popularity of regulated crypto products.

(Source：CCN)