Vanguard Enables Spot Bitcoin ETF Trading; BofA Suggests 1-4% Allocation
Vanguard, the world's second-largest asset manager, now allows investors to trade BlackRock's spot Bitcoin ETF on its platform, Cardiff founder William Stern said on Dec. 3. Bank of America's Merrill and Private Bank Chief Investment Officer Chris Hyzy stated a 1% to 4% digital asset allocation may be appropriate for investors with high thematic innovation interest and volatility tolerance. Bitcoin surged past $92,000 on Tuesday following the announcement, marking Vanguard's shift from long-standing crypto critic to ETF distributor.