Bank of America approved policy allowing its wealth advisers to recommend U.S.-listed spot Bitcoin ETFs across its wealth platforms, including Merrill, Bank of America Private Bank and Merrill Edge.
The Bank of America approved specific funds and set a recommended client allocation range of 1%–4% of overall portfolio value, classifying the exposure as high-risk and innovative.
The Chief Investment Office vetted and cleared four spot Bitcoin funds for adviser recommendation. Bank channels covered include retail and private-bank investment platforms operated under the institution’s wealth-management umbrella.
The change provides regulated ETF exposure to eligible clients while keeping allocation guidance and compliance controls central to the rollout.
Client, product and compliance implications
Advisers may recommend these ETFs only for eligible clients and within the bank’s prescribed allocation band. The CIO emphasized that products were approved after due diligence to ensure alignment with the institution’s “stringent compliance and risk management protocols,” reflecting a cautious, product-level approach to institutional crypto exposure.
For clients this means access to spot-Bitcoin exposure through regulated ETF wrappers rather than direct custody of crypto. For product and compliance teams the decision centralizes vendor vetting, custody and counterparty scrutiny, and preserves discretionary limits on allocations that aim to limit concentration and operational risk.
Investors and compliance officers will now watch how advisers incorporate these funds into client portfolios and how ETF flows and performance influence further coverage decisions and product availability within the firm’s wealth channels.
