Bank of America Greenlights Wealth Advisers to Recommend Up to 4% Bitcoin Allocation

Bank of America, one of the U.S.’s largest financial institutions, has become the latest Wall Street giant to warm up to bitcoin (BTC). Beginning in January, the bank's wealth management advisers will be allowed to recommend a 1%-4% allocation to crypto assets, according to Yahoo Finance. Initially, the BofA/Merrill Lynch thundering herd will focus on four spot bitcoin ETFs — BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITB and Grayscale's BTC. It's a major change for the bank, which previously allowed ...