Free NewsletterPro Login

Free Live Investors Workshop

Seats limited

Tue, Sep 29.

The dollar is losing value.

Here’s how investors can still profit.

Hosted By

Jaspreet Singh

Founder, Briefs Finance

X

Warning: Undefined variable $stocks in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 448

Warning: Undefined variable $funds in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472

Warning: foreach() argument must be of type array|object, null given in /var/www/briefs.co/htdocs/wp-content/plugins/oxygen/component-framework/components/classes/code-block.class.php(133) : eval()'d code on line 472
/* the link was here */

Bank of America Joins Wall Street Crypto Push, Advises Up to 4% Blockchain Exposure

A stylized illustration of a cylindrical cup with blue arrows and lines indicating a swirling or rotational motion inside the cup.
Published Dec 3, 2025
[tts_player]
Share:
A cloud graphic connected to five cryptocurrency and digital platform logos on a blue background, with a BriefsFinance watermark in the corner.
Summary:
  • BofA endorses 1%-4% crypto allocation for Merrill, Private Bank, Merrill Edge clients
  • Four bitcoin ETFs from Bitwise, Fidelity, Grayscale, BlackRock get coverage starting Jan. 5
  • Previously, BofA's 15,000+ wealth advisers couldn't recommend crypto without client request

The Recommendation

Bank of America wants its wealth management clients to consider digital assets exposure. Starting next year, investment strategies at BofA's Merrill, Bank of America Private Bank, and Merrill Edge platforms will support clients who want to allocate up to 4% of their portfolios to cryptocurrencies.

"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," said Chris Hyzy, chief investment officer at Bank of America Private Bank.

The Risk Levels

Hyzy described "the lower end of this range" as suitable for investors with a conservative risk profile. The 4% level is appropriate for those with high risk tolerances.

"Our guidance emphasizes regulated vehicles, thoughtful allocation, and a clear understanding of both the opportunities and risks," Hyzy added.

The ETF Coverage

On January 5, Bank of America's wealth management clients will initiate coverage of Bitcoin exchange-traded funds from Bitwise, Fidelity, Grayscale, and BlackRock.

The firm's CIO-covered bitcoin ETFs will include the Bitwise Bitcoin ETF, Fidelity's Wise Origin Bitcoin Fund, Grayscale's Bitcoin Mini Trust, and BlackRock's iShares Bitcoin Trust.

The Big Change

Historically, Bank of America's wealth management clients were only able to access crypto-related products upon request. That left over 15,000 wealth advisors at the firm unable to make crypto-related recommendations.

"This update reflects growing client demand for access to digital assets," said Nancy Fahmy, head of Bank of America's investment solutions group.

The Wall Street Wave

Bank of America's recommendation comes alongside a broad push into crypto from other big banks and asset managers.

In early October, Morgan Stanley's global investment committee suggested 2%-4% of portfolios should be in crypto, describing it as a "speculative but increasingly popular asset class that many investors, but not all, will seek to explore."

At the beginning of 2025, BlackRock put forth a case for investors to allocate 1%-2% of their portfolio to bitcoin. Last year, Fidelity suggested 2%-5% allocation, with up to 7.5% for young investors.

Who's Already In

Morgan Stanley, Charles Schwab, Fidelity Investments, and JPMorgan Chase already allow all customers to invest in certain crypto ETFs.

Bloomberg reported Monday that Vanguard will begin allowing some crypto ETFs and mutual funds on its platform starting Tuesday. A Bitcoin-friendly CEO was appointed to the world's second-largest asset manager in May.

Fintech bank SoFi began rolling out direct crypto trading to retail customers a month ago. Several banks, including Charles Schwab, Morgan Stanley, and PNC, are expected to follow suit.

JPMorgan's Approach

JPMorgan Chase's global and US wealth management division hasn't offered official guidance on crypto to its 5,900 advisers. But its plans to delve into various crypto areas have accelerated this year.

Since fall, JPMorgan has allowed Chase credit card customers to fund accounts with major US crypto exchange Coinbase Global.

The Policy Shift

The Trump administration has ushered in a dramatic reversal of US crypto policy this year. That includes removing several guidance barriers that Biden-era regulators built to ring-fence banks from crypto activities.

The administration has given the crypto industry more regulatory clarity. Many US banks are waiting for Congress to pass crucial crypto legislation that would set a general framework for how federal agencies regulate the crypto market before offering direct crypto trading, custody, and other services.

The Market Reality

Though the dynamic has turned Wall Street and many investors into bulls, the crypto market has faced a rough patch in recent weeks.

Bitcoin's price jumped to near $91,600 Tuesday, up 7.6% over 24 hours. But the largest cryptocurrency by market value is off about 30% since hitting a record high above $126,000 in early October.

The Bottom Line

Bank of America is endorsing 1%-4% crypto allocation for wealth clients starting January with coverage of four bitcoin ETFs, joining Morgan Stanley, BlackRock, and Fidelity in recommending digital asset exposure as the Trump administration's policy reversal accelerates Wall Street adoption despite bitcoin trading 30% below October's peak.

Disclosure

Recent News

1 2 3 74

Get Market Briefs delivered to your inbox every morning for free!

No fluff. No noise. No politics. Just finance news you can read in 5 minutes.

Blogs

September 11, 2026
How Is the Economy Doing? Washington Says It's Fixed, but the Numbers Don't Agree
  • Treasury Secretary Scott Bessent says the economy is fixed because lower earners' incomes are now rising faster than top earners'.
  • The Atlanta Fed and Bank of America show different numbers, and Hilton, Marriott, and McDonald's can't agree on what they're seeing either.
  • Whichever side is right, the economy is built to make investors rich, and inflation is how it does it.
Read More
September 10, 2026
US National Debt Hits $40 Trillion: Why the Economy Hasn't Collapsed Yet
  • The US national debt crossed $40 trillion in 2026 and is growing faster than the economy. The debt to GDP ratio now sits at 125%, the highest outside the pandemic and higher than World War II.
  • On September 9, 2026, Treasury Secretary Scott Bessent rolled out an emergency plan for the government to lend money to itself. Ray Dalio now says the dollar has roughly three years before real pain.
  • Empires rarely default. They debase. Since 1971, median household income grew about 8x while houses grew 17x and the S&P 500 grew 360x, so investors got richer while workers fell behind.
Read More
September 9, 2026
Your 401k Is Fueling the AI Bubble
  • About $10 trillion of 401k money sits in a $77 trillion stock market, mostly through target date funds and S&P 500 funds. Roughly 30% of every S&P 500 dollar lands in five AI-heavy tech stocks.
  • Four bubble signals run hotter today than before the 2000 crash: top-ten concentration, tech's share of the index, the Buffett Indicator, and how much of the market index funds own.
  • You only lock in an AI bubble loss if you sell. The 2022, 2020, 2008, and 2000 crashes were all buying windows for long-term investors, and the US-China AI race means government money could keep flowing in.
Read More
September 9, 2026
What Is Wealth Preservation? How To Protect Your Money From Anything
  • Wealth preservation is an investing strategy built around keeping the money you've already made instead of chasing growth.
  • It leans on assets that hold steady when markets fall - gold, Treasury bonds, and companies that keep earning through wars, crashes, and pandemics.
  • The tradeoff is real: you give up some upside, and the two key numbers to check are maximum drawdown and correlation to the market.
Read More
September 8, 2026
Why Is Everything So Expensive? Why Prices May Never Come Back Down
  • Official inflation is 3.4% and prices are up 32% since 2020, but rent (41%), gas (47%), car insurance (64%) and ground beef (79%) all outran the 28% median wage.
  • The Federal Reserve targets 2% inflation on purpose. Rising prices push extra dollars to investors and shrink the real cost of a $40 trillion national debt.
  • Investors who simply owned the S&P 500 gained about 150% over the same six years, and the Fed's September 16 decision will show whether it protects the dollar or the economy first.
Read More
September 7, 2026
The U.S. Housing Market Just Flipped: Renting a Home Now Beats Buying One
  • The US is in a buyer's market in 41 of the 50 largest metro areas, but prices sit near record highs and mortgage rates are close to 7%.
  • The same median house costs 27% more than it did in 2021 while the monthly payment costs 90% more, and incomes rose a little more than 10%.
  • A 2008-style crash is not showing up in the data, so the pressure is landing on buyers instead of prices.
Read More
September 4, 2026
An Interest Rate Hike in 2026? The Fed Just Broke Its Own Script
  • The Federal Reserve spent a year signaling cheaper money, and its new chairman just warned that an interest rate hike may be coming instead.
  • The Fed is stuck between high inflation and a weak job market, and fixing one makes the other worse.
  • Higher rates also reprice roughly a third of America's $40 trillion national debt this year, which is why Washington wants cuts so badly.
Read More
September 3, 2026
5 Passive Income Ideas That Pay You Whether You Work or Not
  • School teaches one formula: work, earn, spend. Stop working and the money stops, so the wheel never ends.
  • Five assets pay you without your labor - dividends, rent, interest, royalties, and the things you already own.
  • $80,000 a year of cash flow takes about $1 million invested at 8%, or roughly 20 years of $1,000 a month.
Read More
September 2, 2026
The Best Way to Invest 10k: Three Options To Transform 10K into 10 Million
  • Passive investing in stocks or real estate targets around 10% a year, and time in the market matters more than the price you get in at.
  • Active investing means putting your time in alongside your money, which raises the target to roughly 20% a year and raises the risk of losing it all.
  • Investing in yourself has no ceiling, because a new skill can create a new income that no market return can match.
Read More
September 1, 2026
The Tax Write Offs the Rich Are Using in 2026 While the IRS Shrinks
  • The 2026 tax brackets landed lower than they were headed, and the standard deduction jumped from a planned $8,350 to $16,100 for single filers.
  • New write offs for overtime, tips, seniors and car loan interest are live now, and most of them are written to expire in 2028.
  • About a third of IRS auditors have been fired, and four assets do most of the work for people who want income without a matching tax bill.
Read More
1 2 3 26
Share via
Copy link