Bank of America (NYSE: BAC) said its wealth management units now see room for clients to include crypto in their broader portfolios, signaling a shift toward mainstream adoption. The bank reportedly supports a 1%–4% digital-asset allocation for users of Merrill, Bank of America Private Bank, and Merrill Edge.

Chris Hyzy, chief investment officer at Bank of America Private Bank, was quoted as saying:

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.

He added that the firm’s guidance emphasizes “regulated vehicles, thoughtful allocation, and a clear understanding of both the opportunities and risks.” Hyzy further stated: “The lower end of this range may be more appropriate for those with a conservative risk profile, while the higher end may suit investors with greater tolerance for overall portfolio risk.” Beginning Jan. 5, the firm’s CIO-covered bitcoin exchange-traded funds (ETFs) will include 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).

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Bank leaders noted that many affluent clients previously accessed crypto-linked products only upon request, which restricted advisers from initiating conversations. Nancy Fahmy, who leads the investment solutions group, stated:

This update reflects growing client demand for access to digital assets.

There is a similar movement across the sector, with Morgan Stanley, Blackrock, Fidelity, and Vanguard broadening access to crypto. Blackrock, the world’s largest asset manager, has suggested a 1% to 2% bitcoin allocation for multi-asset portfolios, saying the range reflects a similar share of overall portfolio risk as a typical allocation to “Magnificent Seven” mega-cap tech stocks. Morgan Stanley has proposed a 2% to 4% range for clients with more opportunistic growth portfolios, describing bitcoin as comparable to digital gold. Fidelity Investments has long recommended a 2% to 5% crypto allocation, with some guidance indicating higher ranges of up to 7.5% for younger investors.

Vanguard has also reversed its strict anti-crypto stance, now allowing clients to trade third-party spot bitcoin and other crypto ETFs on its brokerage platform. Driven by significant client demand, this pivot grants millions of investors regulated access to digital assets. Although bitcoin has fallen from its peak above to roughly $85,000, advocates argue that institutional participation, product expansion, and continued regulatory clarity support the long-term case for including digital assets in diversified portfolios.

• What crypto allocation range did Bank of America recommend?
  The bank advised clients to consider a 1%–4% digital-asset allocation.
• Which crypto investment products will receive new coverage?
  Coverage will include the Bitwise Bitcoin ETF, Fidelity’s Wise Origin Bitcoin Fund, Grayscale’s Bitcoin Mini Trust, and Blackrock’s Ishares Bitcoin Trust.
• Why did Bank of America update its crypto guidance?
  The bank cited growing client demand for regulated access to digital assets.
• How has bitcoin’s price changed relative to its recent peak?
  Bitcoin has declined to around $85,000.

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