Bank of America Advisers Can Now Recommend Bitcoin ETFs

Bank of America has announced a major policy change regarding cryptocurrency investments for its wealth management clients. The financial giant will now permit its advisers to recommend specific spot Bitcoin ETFs, representing a significant expansion of its digital asset strategy.

This new capability extends across the bank's entire wealth management division, including both Merrill and the private bank. The decision moves the institution beyond its previous client-led access model, where clients could only initiate cryptocurrency investments upon their own request.

The policy change specifically covers four spot Bitcoin ETFs, though the exact funds have not been publicly identified in the announcement. This development reflects growing institutional acceptance of cryptocurrency as a legitimate asset class for wealth management portfolios.

The timing of this announcement, made in early 2026, suggests that Bank of America has been monitoring the cryptocurrency market and regulatory environment closely before making this strategic pivot.

Bank of America will enable advisers across Merrill and its private bank to recommend four spot Bitcoin ETFs. This represents a fundamental shift in how the institution approaches digital asset recommendations for wealth management clients.

The previous approach required clients to take the initiative in requesting cryptocurrency investments. Under the new policy, wealth advisers can proactively recommend these investment vehicles as part of comprehensive portfolio strategies.

This change applies to the entire wealth management division, ensuring consistent service across different client segments. The bank's private banking clients and Merrill wealth management clients will both have access to these recommendations.

The decision to allow adviser recommendations rather than just client-initiated access demonstrates increased confidence in the spot Bitcoin ETF market structure and regulatory framework.

The policy expansion covers four specific spot Bitcoin ETFs that advisers can now recommend to qualified clients. While the exact ETF names were not specified in the announcement, this represents a curated selection of available cryptocurrency investment products.

Implementation across both Merrill and the private bank ensures that clients at different wealth tiers receive consistent access to cryptocurrency investment guidance. The bank's advisers will need to evaluate client suitability and risk tolerance before making recommendations.

This approach allows Bank of America to maintain oversight while expanding client options. The advisers can integrate these recommendations into broader investment strategies that consider:

• Portfolio diversification objectives
• Risk management parameters
• Client investment goals and timelines
• Regulatory compliance requirements

The client-led access model that previously governed cryptocurrency investments has now been supplemented with active adviser guidance, creating a more comprehensive service offering.

This announcement from Bank of America signals continued institutional adoption of cryptocurrency investment products. By allowing wealth advisers to recommend spot Bitcoin ETFs, the bank is acknowledging the growing importance of digital assets in modern portfolio construction.

The move beyond client-led access to active adviser recommendations represents a maturation of the cryptocurrency investment landscape. Traditional financial institutions are increasingly viewing digital assets as legitimate components of diversified investment strategies.

For wealth management clients, this policy change provides access to cryptocurrency exposure through regulated investment vehicles with professional guidance. The spot Bitcoin ETF structure offers a familiar investment format that integrates with existing portfolio management processes.

The timing of this policy expansion in 2026 suggests that regulatory clarity and market maturity have reached levels that satisfy the bank's risk management and compliance standards.

The announcement represents a significant development in the intersection of traditional banking and cryptocurrency markets. Bank of America has positioned itself to provide comprehensive digital asset guidance through its established wealth management channels.

Key aspects of this policy change include:

• Adviser recommendations for four spot Bitcoin ETFs
• Availability across Merrill and private bank divisions
• Expansion beyond client-initiated cryptocurrency access
• Integration with professional wealth management services

This development indicates that major financial institutions continue to evolve their approaches to cryptocurrency as the asset class gains mainstream acceptance and regulatory clarity.