Bank of America Embraces Cryptocurrency for Client Portfolios

Bank of America is joining the growing chorus of financial institutions by officially endorsing cryptocurrency allocations in client portfolios. The nation’s second-largest bank has unveiled a new policy guiding wealth management clients towards allocating between 1% and 4% of their portfolios to digital assets, marking a significant shift from its previous restrictions. This move paves the way for over 15,000 financial advisors across Merrill, Bank of America Private Bank, and Merrill Edge platforms to recommend crypto investments proactively.