Bank of America will allow wealth advisers across Merrill, the Bank of America Private Bank, and Merrill Edge to recommend spot Bitcoin ETFs starting Monday.
The move expands beyond prior client-led access, where eligible clients could request spot Bitcoin ETF exposure but advisers were limited to responding to those requests.
Four ETFs approved for coverage
The bank’s chief investment office has approved four US-listed spot Bitcoin ETFs for coverage: Bitwise’s BITB, Fidelity’s FBTC, Grayscale’s Bitcoin Mini Trust, and BlackRock’s IBIT.
These funds are among the largest and most liquid spot Bitcoin products, which the report said makes them easier for the bank to underwrite from an operational and regulatory risk perspective.
Adviser-led allocations and training
Under the new framework, advisers can proactively recommend spot Bitcoin ETFs, supported by CIO research and guidance.
That guidance frames bitcoin exposure as roughly a 1%–4% portfolio sleeve for suitable clients, depending on risk profile and applicable rules.
The bank is rolling out an allocation guidance paper and adviser training to its network of more than 15,000 wealth advisers.
Why bitcoin only, for now
Samar Sen, APAC head at institutional trading platform Talos, told Cointelegraph:
“These four names are among the top names running digital asset ETFs due to their experience, assets under management, and track record.”
Bank of America has not publicly committed to adding Ether products.
Sen said any expansion beyond bitcoin would likely depend on liquidity, market structure maturity, and the ability to support institutional-grade execution and risk controls.
