Bank of America Encourages Investment in Crypto for High-Net-Worth Clients

Bank of America is advising its high-net-worth clients to incorporate digital currencies into their investment strategies. The financial giant plans to suggest a minimal allocation of 1% to 4% of portfolios, specifically targeting cryptocurrencies through platforms like Merrill, Bank of America Private Bank, and Merrill Edge. This strategic shift reflects the bank’s evolving approach towards cryptocurrency, coinciding with the launch of four Bitcoin exchange-traded funds (ETFs). The move emphasizes a cautious yet significant investment in digital assets for those comfortable with their volatility.