Bank of America Opens Door to Crypto for Wealth Clients

Bank of America is officially allowing its wealth management clients to invest in crypto assets, a significant shift in the firm’s long-held stance. The move, announced by the bank, enables advisors to recommend between 1% and 4% of portfolios be allocated to digital assets. This represents a major change for Bank of America and signifies growing mainstream acceptance of crypto as an integral part of financial planning. Previously restricted from recommending crypto products without client requests, the bank now empowers its investment teams to offer this new avenue for wealth clients, aligning with industry peers.