Bank of America will allow its wealth management advisors, beginning in January, to recommend a 1%–4% allocation to crypto assets, initially via four spot bitcoin ETFs (BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITB and Grayscale's BTC). The policy reverses a previous ban on advisor crypto recommendations, aligns BofA with peers like BlackRock and Morgan Stanley, follows Vanguard’s recent reversal, and is positioned as a modest allocation for investors who can tolerate elevated volatility per BofA Private Bank CIO Chris Hyzy.

BofA will permit advisors to recommend a 1%–4% allocation to crypto starting in January and will focus recommendations on four spot bitcoin ETFs (IBIT, FBTC, BITB, GBTC); this reverses the bank’s prior ban, aligns it with other large firms, and includes CIO guidance that a modest allocation suits investors tolerating elevated volatility — facts likely to be modestly bullish for BTC demand.