Bank of America (BofA) has disclosed that it is preparing to make one of its biggest moves in crypto asset policy. According to a recent report from Yahoo Finance, the institution will allow its wealth advisers to recommend allocating 1-4% of clients’ digital assets. The bank noted that the move will commence by January. This marks a solid development for the financial giant. Before now, the bank’s clients could purchase any crypto asset they wanted. However, advisers were not allowed to suggest or recommend any digital asset investment for clients. Commenting on the announcement, chief investment officer at BoFA, Chris Hyzy, said: “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.” Prioritizing a Select Group of Bitcoin ETFs Hyzy further added that the recommendation highlights regulated vehicles, strategic allocation, and a comprehension of both the opportunities and risks.  As part of the policy, by January 5, the bank will focus on a limited group of spot bitcoin exchange-traded funds (ETFs). These involve some of the biggest players in the market, such as the Bitwise Bitcoin ETF (BITB), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale’s Bitcoin Mini Trust (BTC), and BlackRock’s iShares Bitcoin Trust (IBIT). Meanwhile, all of these ETFs have recorded massive inflows this year. They are seen as one of the most trusted options for investors seeking direct exposure to BTC.   Growing Acceptance of Bitcoin-Based Products The bank’s recent decision is significant. It aligns with Vanguard, another big player in the industry, which has opened access to its crypto asset ETFs on its brokerage platform after several years of resistance. Although the institution has not strongly embraced crypto as other major firms have, the move reflects the growing acceptance of bitcoin-based products.  For BofA, permitting this modest allocation shows its interest in meeting investors’ demand while staying conservative. Meanwhile, the development comes as the crypto market shows slight signs of recovery. As major assets like BTC, SOL, and BNB see notable increases, traders and the broader crypto community anticipate further surges. The crypto market, however, has seen massive declines in recent times. The post Bank of America to Allow 1-4% Crypto Allocation by January appeared first on CoinTab News.Bank of America (BofA) has disclosed that it is preparing to make one of its biggest moves in crypto asset policy. According to a recent report from Yahoo Finance, the institution will allow its wealth advisers to recommend allocating 1-4% of clients’ digital assets. The bank noted that the move will commence by January. This marks a solid development for the financial giant. Before now, the bank’s clients could purchase any crypto asset they wanted. However, advisers were not allowed to suggest or recommend any digital asset investment for clients. Commenting on the announcement, chief investment officer at BoFA, Chris Hyzy, said: “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.” Prioritizing a Select Group of Bitcoin ETFs Hyzy further added that the recommendation highlights regulated vehicles, strategic allocation, and a comprehension of both the opportunities and risks.  As part of the policy, by January 5, the bank will focus on a limited group of spot bitcoin exchange-traded funds (ETFs). These involve some of the biggest players in the market, such as the Bitwise Bitcoin ETF (BITB), Fidelity’s Wise Origin Bitcoin Fund (FBTC), Grayscale’s Bitcoin Mini Trust (BTC), and BlackRock’s iShares Bitcoin Trust (IBIT). Meanwhile, all of these ETFs have recorded massive inflows this year. They are seen as one of the most trusted options for investors seeking direct exposure to BTC.   Growing Acceptance of Bitcoin-Based Products The bank’s recent decision is significant. It aligns with Vanguard, another big player in the industry, which has opened access to its crypto asset ETFs on its brokerage platform after several years of resistance. Although the institution has not strongly embraced crypto as other major firms have, the move reflects the growing acceptance of bitcoin-based products.  For BofA, permitting this modest allocation shows its interest in meeting investors’ demand while staying conservative. Meanwhile, the development comes as the crypto market shows slight signs of recovery. As major assets like BTC, SOL, and BNB see notable increases, traders and the broader crypto community anticipate further surges. The crypto market, however, has seen massive declines in recent times. The post Bank of America to Allow 1-4% Crypto Allocation by January appeared first on CoinTab News.