Bank of America backs 1%–4% crypto allocation, opens door to Bitcoin ETFs
Bank of America’s wealthiest clients will gain access to Bitcoin ETFs, while its network of over 15,000 wealth advisers can recommend crypto exposure for the first time, Yahoo reported.
More big-name financial institutions are opening the door to Bitcoin exposure, signaling a growing institutional appetite for regulated digital asset products.
Bank of America, the second-largest US bank, reportedly recommended a 1%–4% cryptocurrency allocation to its wealth management clients through the Merrill, Bank of America Private Bank and Merrill Edge platforms, according to a statement shared with Yahoo Finance on Tuesday.
“For investors with a strong interest in thematic innovation and comfort with elevated volatility, a modest allocation of 1% to 4% in digital assets could be appropriate,” said Chris Hyzy, chief investment officer at Bank of America Private Bank, in the statement shared with Yahoo.
