Move expands adviser-led Bitcoin exposure across Merrill and private banking platforms
From January 5, Bank of America has formally expanded Bitcoin access across its US wealth management business, allowing financial advisers to proactively recommend spot Bitcoin exchange-traded funds (ETFs). The change marks a shift from client-initiated crypto exposure to adviser-led portfolio discussions, signaling deeper institutional acceptance of Bitcoin.
Approved Spot Bitcoin ETFs for Wealth Clients
The bank’s chief investment office has approved four US-listed spot Bitcoin ETFs for use across Merrill, the Bank of America Private Bank, and Merrill Edge. These include products from BlackRock, Fidelity, Bitwise, and Grayscale. All four are among the largest and most liquid Bitcoin ETFs currently trading, making them operationally efficient and easier to manage from a regulatory risk standpoint.
Previously, advisers could only facilitate Bitcoin ETF purchases when clients explicitly requested them. Under the new framework, advisers may now recommend Bitcoin exposure directly, supported by internal research and training. Guidance suggests Bitcoin can represent approximately 1% to 4% of a diversified portfolio, depending on a client’s risk tolerance and regulatory eligibility.
To support this rollout, formal allocation guidance, CIO research, and adviser education programs are being distributed to more than 15,000 wealth advisers nationwide.
At this stage, only Bitcoin-based products are approved. The bank has not yet indicated whether Ether ETFs will receive similar coverage, leaving future expansion dependent on liquidity, market structure, and institutional risk controls.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.