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Bank of America opens new tab will begin allowing its wealth advisers to recommend allocations to crypto in client portfolios from next month, the U.S. lending giant said on Thursday, in a landmark moment for the digital assets sector. Starting January 5, advisors at Bank of America Private Bank, Merrill, and Merrill Edge will be able to suggest several crypto exchange-traded products (ETPs) clients, without any asset threshold.
"For investors with a strong interest in thematic innovation and comfort with elevated volatility, a modest allocation of 1% to 4% in digital assets could be appropriate," said Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank.
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