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The US Bank has approved a wealth advisor's recommendation for investors to allocate 1%–4% of their assets to cryptocurrency.
BlockBeats News, December 2nd, according to CoinDesk's report, one of the major U.S. financial institutions, Bank of America, has become the latest Wall Street giant to adopt a positive stance on Bitcoin.
Starting from January next year, the bank's wealth management advisors will be allowed to recommend that clients allocate 1%–4% of their assets to cryptocurrency. Initially, the Bank of America/Merrill Lynch team will focus on four physical Bitcoin ETFs—BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITW, and Grayscale's BTC.
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