Bank of America Embraces Crypto, Allows Advisors to Offer Bitcoin ETFs to High-Net-Worth Clients

Bank of America is taking a significant step into the world of cryptocurrency by allowing financial advisers on its wealth management platforms to actively recommend Bitcoin exchange-traded funds (ETFs) to affluent clients. This move marks a major shift in the bank’s strategy and impacts over 15,000 wealthy individuals across Merrill, Bank of America Private Bank, and Merrill Edge. Previously, advisors could only offer crypto products upon client request.