Bank of America now advises wealth management clients to put 1-4% of portfolios into cryptocurrency, marking a major policy reversal for the financial giant.
What’s changing:
Starting January 5, 2026, the bank will cover four bitcoin ETFs: Bitwise BITB, Fidelity FBTC, Grayscale Bitcoin Mini Trust, and BlackRock IBIT.
Private Bank CIO Chris Hyzy stated small allocations suit clients willing to accept higher volatility, emphasizing regulated products and diversification.
Previous policy: Advisers couldn’t recommend crypto unless clients specifically requested it, effectively blocking 15,000+ advisers from the market during rising demand.
Industry alignment: The move puts Bank of America alongside other major institutions that have recently established formal crypto allocation frameworks, reflecting Wall Street’s broader embrace of digital assets.
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