Bank of America Advisors allows you to withdraw Bitcoin ETFs starting today.
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Bank of America allows wealth advisors to offer Bitcoin ETFs. Eligible Bitcoin ETFs include funds managed by BlackRock, Fidelity, Bitwise and Grayscale.
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Bank of America wealth advisors will be allowed to recommend Bitcoin ETFs to their clients starting today.
Chris Heisey, chief investment officer of Bank of America Private Banking, told Yahoo Finance last month that the bank will launch coverage for four bitcoin ETFs on January 5, including Bitwise Bitcoin ETF (BITB), Fidelity Wise Origin Bitcoin Fund (FBTC), Grayscale Bitcoin Mini Trust (BTC) and BlackRock iShares Bitcoin Trust (IBIT).
The bank supports allocating 1%–4% to digital assets for clients across Merrill, Bank of America Private Banking and Merrill Edge.
With this move, Bank of America is joining Morgan Stanley in expanding access to digital asset investment products for its clients.
The move is seen as a significant shift from the bank's conservative stance on digital assets. Greater availability of Bitcoin ETFs through major financial institutions could attract new investors to the market and boost overall demand.
