ByKirk Ogunrinde,
Contributor.
Bank of America is recommending its wealth management clients allocate up to 4% of their portfolios to cryptocurrency assets, marketing digital assets available to its 70 million clients and marking the latest push by digital assets into mainstream financial institutions.
Bank of America has endorsed a 1-4% percent digital asset allocation to all its Merrill, Bank of America Private Bank, and Merrill Edge clients.
Previously, only the bank’s wealthiest clients could get any cryptocurrency exposure, upon request to their portfolio managers, Yahoo Finance reported.
