Bank of America is advising its wealth management clients to consider adding cryptocurrency to their investment strategies. The bank now recommends a 1%–4% crypto allocation across Merrill, Bank of America Private Bank, and Merrill Edge accounts. Beginning January 5, its strategists will cover four major bitcoin ETFs, including offerings from Bitwise, Fidelity, Grayscale, and BlackRock.

Bank executives say the shift reflects growing demand as more investors look for regulated, secure ways to enter the digital asset market. Clients with higher risk tolerance may lean toward the upper end of the allocation range, while conservative investors are urged to stay closer to 1%. Previously, advisers were limited in recommending crypto, leaving many clients to seek access elsewhere.

Major financial institutions—including Morgan Stanley, Fidelity, BlackRock, and JPMorgan—are also expanding crypto options, signaling broader Wall Street acceptance despite recent market volatility. Bitcoin has dipped from its $126,000 peak to about $85,000, but banks say long-term investor interest remains strong.