Bank of America Allows Wealth Advisors to Recommend Crypto Allocations
Bank of America said Thursday it will permit its wealth advisors to recommend crypto allocations in client portfolios beginning next month, marking a milestone for the digital-asset industry. The U.S. banking giant said advisors may discuss and propose allocation sizes as part of broader financial plans, while underscoring that suitability assessments, risk disclosures and compliance reviews will govern any recommendations.
The change brings mainstream advisory channels into the market for cryptocurrencies and could increase access for high-net-worth clients who prefer managed exposure over self-custody. It may also spur demand for crypto-linked funds and structured products within wealth platforms and encourage other institutions to reassess policy, all while keeping regulatory and compliance oversight front and center as advisers incorporate volatile digital assets into portfolios. Investors should expect banks to clarify approved instruments and guardrails in the coming weeks.