Bank of America Authorizes Wealth Advisors to Recommend 1%–4% Crypto Allocation

Bank of America has authorized its wealth management advisors to recommend crypto allocations of 1%–4% for client portfolios starting January, CoinDesk reports. The Bank of America/Merrill Lynch teams will initially focus on four spot bitcoin ETFs: BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITB, and Grayscale's BTC. This move positions the institution among Wall Street firms opening access to bitcoin investment products for wealth clients.