Bank of America Opens the Door for Wealth Clients to Allocate 1%–4% to Crypto

Bank of America has introduced formal guidance allowing its wealth-management clients to allocate 1% to 4% of their portfolios to cryptocurrency, marking a reversal of the bank’s previous restrictions on adviser-initiated discussions about digital assets.

According to reporting cited from Yahoo Finance, the change applies to clients across Merrill, Private Bank, and Merrill Edge, and affects more than 15,000 advisers who were previously unable to recommend crypto unless prompted by clients. Beginning January 5, 2026, the bank’s chief investment office will initiate coverage of four spot Bitcoin exchange-traded funds: Bitwise’s BITB, Fidelity’s FBTC, Grayscale’s Bitcoin Mini Trust, and BlackRock’s IBIT.

Private Bank CIO Chris Hyzy said a modest crypto allocation “may be appropriate” for clients willing to accept higher volatility, suggesting the bank’s approach centers on regulated investment vehicles rather than direct ownership.

Analysts note that the 1%–4% range aligns with guidance already issued by peers such as Morgan Stanley, BlackRock, and Fidelity, reflecting a broader industry shift toward incorporating spot Bitcoin ETFs into mainstream wealth-management frameworks.