As per Coinotag, Bank of America will permit wealth management clients to allocate 1%–4% of their portfolios to cryptocurrency via regulated Bitcoin ETFs starting January 5, 2025. The bank’s Chief Investment Officer, Chris Hyzy, emphasized that this move targets thematic innovation and elevated volatility, positioning crypto as a strategic asset for long-term growth. Four spot Bitcoin ETFs—Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Mini Trust (BTC), and BlackRock iShares Bitcoin Trust (IBIT)—are recommended for compliant exposure. The decision aligns with a crypto market downturn, with the global market cap at $3.09 trillion as of the latest CoinMarketCap data.
Bank of America to Allow 1-4% Bitcoin ETF Allocations in Client Portfolios from January 2025
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