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Bank of America says its wealth management clients may put up to 4% of their portfolio in crypto
Bank of America (BAC) says its wealth management clients should start thinking about getting some crypto exposure in their portfolios. The firm is endorsing a 1%-4% allocation to digital assets for clients of its Merrill, Bank of America Private Bank, and Merrill Edge platforms. Its investment strategists will begin covering four bitcoin ETFs in January. "For investors with a strong interest in thematic innovation and comfort with elevated volatility, a modest allocation of 1% to 4% in digital assets could be appropriate," Chris Hyzy, chief investment officer at Bank of America Private Bank, said in a statement. ... (full story)
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