๐ฅ Bank of America (BoA) โ one of the largest banks in the world โ officially gives the green light for customers to allocate 1%โ4% of their portfolio into digital assets starting next year.
The Merrill, BoA Private Bank, and Merrill Edge platforms will support customers in directly accessing crypto.
Chris Hyzy stated:
Low-risk investors โ should allocate at 1%.
Investors who can handle volatility well โ can go up to 4% in crypto.
๐ Starting from 5/1, customers will gain access to Bitcoin ETFs from:
Bitwise โ Fidelity โ Grayscale โ BlackRock.
Previously, they could only view them upon request โ the bank's 15,000 advisors could not recommend crypto.
๐ This decision comes as BTC rebounds above $90,000, increasing by 6โ7% in 24 hours and liquidating over $157 million in positions.
๐ฅ At the same time, Vanguard also reversed its policy, allowing crypto ETF trading.
While Fidelity suggested last year allocating 2%โ5% into Bitcoin (younger investors could go up to 7.5%).
โก๏ธ Overall signal: Digital assets are increasingly seen as a mainstream part of traditional investment portfolios.
๐คฃ This article is just to tell the story of banks playing with crypto. Not investment advice. Don't blame me if you go in at 40% because BoA said 4%. ๐
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