Bank of America has made a big move in the world of digital assets, planning to soon allow more than 15,000 of its wealth advisers to recommend bitcoin and digital asset exchange-traded funds (ETFs) to clients. This is one of the strongest signals so far that bitcoin is entering the mainstream investment world.

Beginning January 5, clients using Merrill, Bank of America Private Bank, and Merrill Edge, will be able to invest in four bitcoin spot ETFs. These include Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Mini Trust (BTC), and BlackRock’s iShares Bitcoin Trust (IBIT).

For the first time, the bank’s clients can access bitcoin through familiar banking channels instead of going to 3rd party digital asset platforms.

Bank of America, however, is not telling investors to go all-in on bitcoin. Instead, it recommends a small allocation of 1% to 4% of a portfolio, depending on how much risk an investor is comfortable with. This means bitcoin is being treated as a risk asset, but with a potential for growth, not a main holding.

Chris Hyzy, the bank’s Chief Investment Officer, explained the plan clearly. He said:

Hyzy added that “the lower end of this range may be more appropriate” for conservative investors, while those willing to take on more risk may go towards the higher end.

This recommendation matches what other major financial firms have been saying. Morgan Stanley suggests 2%–4%, BlackRock recommends 1%–2%, and Fidelity believes 2%–5% makes sense.

With Bank of America joining this trend, Wall Street appears to agree that bitcoin can be a useful (though volatile) addition to a modern investment portfolio.

Before this policy change, advisers at Bank of America were only allowed to discuss Bitcoin if a client asked about it first. Now, advisers can bring it up themselves, making Bitcoin far more accessible to everyday investors. This change is happening because interest in the scarce digital asset has been rising fast among clients, especially younger ones.

Bank of America’s bitcoin access is offered through regulated ETFs, which means investors can buy bitcoin exposure like they would buy stocks in their normal brokerage accounts. This gives clients a safer, more familiar way to invest, without needing digital wallets or exchanges.

This isn’t an isolated event. Other large financial institutions that were previously skeptical of bitcoin are also expanding into it.

Vanguard, one of the world’s largest investment firms, was initially skeptical of Bitcoin. When Bitcoin ETFs were first approved in 2024, the company announced that it would not allow trading of them on its platform. Now, however, the investment giant has reversed course and opened its doors to bitcoin ETF trading.

Goldman Sachs is adding Bitcoin-linked funds, and JPMorgan is building financial tools around the asset, and has even said it would accept bitcoin ETF shares as collateral for loans.