Bank of America Just Unleashed Bitcoin ETFs to 15,000+ Advisers

Core Insights - Bank of America has enabled over 15,000 wealth advisers to recommend Bitcoin exchange-traded funds (ETFs) to clients, marking a significant integration of Bitcoin products into traditional finance [1][2] - Starting January 5, clients of Merrill, Bank of America Private Bank, and Merrill Edge will have streamlined access to four specific spot Bitcoin ETFs [2][3] - The bank's chief investment officer suggests a 1% to 4% allocation to digital assets for clients interested in innovation and market fluctuations [3][4] Group 1: New Crypto Access - Bank of America is allowing wealth advisers to recommend Bitcoin ETFs for the first time, reflecting a growing demand for digital assets among U.S. institutions [1][4] - The four Bitcoin ETFs available include Bitwise Bitcoin ETF, Fidelity's Wise Origin Bitcoin Fund, Grayscale's Bitcoin Mini Trust, and BlackRock's iShares Bitcoin Trust [3] Group 2: Investment Guidance - The bank encourages clients to consider a small allocation to crypto, with conservative investors advised to consider the lower end of a 1% to 4% range [4] - Other major financial institutions, such as Morgan Stanley and BlackRock, have also suggested similar allocations to crypto, indicating a broader trend in the industry [5][6] Group 3: Future Developments - Bank of America CEO has indicated that the firm is working on launching its own stablecoin, contingent on regulatory clarity [6]