Bank of America allows US advisers to recommend spot Bitcoin ETFs

From Monday, Bank of America is making crypto a more routine part of its US wealth business by enabling advisers across Merrill, the Bank of America Private Bank and Merrill Edge to recommend spot Bitcoin exchange‑traded funds to a broader range of clients. Bank of America’s chief investment office has approved four US‑listed spot Bitcoin funds for coverage: Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Mini Trust (BTC) and BlackRock’s iShares Bitcoin Trust (IBIT).

The bank said these four ETFs are among the largest and most liquid spot Bitcoin products, making them easier to underwrite from an operational and regulatory risk perspective than smaller, more complex or leveraged vehicles. Samar Sen, APAC head at institutional trading platform Talos, told Cointelegraph, "These four names are among the top names running digital asset ETFs due to their experience, assets under management, and track record.

They also have invested in complex infrastructure that allows them to risk manage and execute in a highly efficient way." Until now, access to spot Bitcoin ETFs at Bank of America was limited to eligible wealth clients and advisers were constrained to serving client‑initiated requests.

Key Topics

Crypto, Merrill, Spot Bitcoin Etf, Bitwise Bitcoin Etf, Fidelity Wise Origin, Ishares Bitcoin Trust