Bank of America's wealth platforms, including Merrill and Bank of America Private Bank, are now allowing advisors to recommend crypto exchange-traded products to clients. This shift marks a significant step towards mainstream adoption, as advisors can now suggest a “modest” 1% to 4% allocation of Bitcoin for clients who can tolerate the volatility. The initial offering includes four Bitcoin ETPs, such as the Bitwise Bitcoin ETF, Grayscale’s Bitcoin Mini Trust, Fidelity’s Wise Origin Bitcoin Fund, and BlackRock’s iShares Bitcoin Trust. Advisors will undergo training and receive allocation guidance. While the allocation seems small, the potential impact is substantial, with even a small percentage of the bank's $4.6 trillion in managed assets translating to billions flowing into Bitcoin.

Bank of America's wealth platforms, including Merrill and Bank of America Private Bank, are now allowing advisors to recommend crypto exchange-traded products to clients. This shift marks a significant step towards mainstream adoption, as advisors can now suggest a “modest” 1% to 4% allocation of Bitcoin for clients who can tolerate the volatility. The initial offering includes four Bitcoin ETPs, such as the Bitwise Bitcoin ETF, Grayscale’s Bitcoin Mini Trust, Fidelity’s Wise Origin Bitcoin Fund, and BlackRock’s iShares Bitcoin Trust. Advisors will undergo training and receive allocation guidance. While the allocation seems small, the potential impact is substantial, with even a small percentage of the bank's $4.6 trillion in managed assets translating to billions flowing into Bitcoin.