[Bank of America Allows Wealth Advisors to Recommend Allocating 1%-4% in Crypto Assets] Bank of America has announced that it will allow wealth management advisors to recommend allocating 1% to 4% of crypto assets to clients, with the new policy set to take effect in January next year. Chris Hyzy, Chief Investment Officer of Bank of America Private Bank, stated that a moderate allocation of 1%-4% in digital assets is suitable for investors interested in innovation themes and capable of handling high volatility. Risk-averse investors are advised to allocate a lower proportion, while those with higher risk tolerance may opt for a higher proportion. Advisors will initially focus on four spot Bitcoin ETFs: BlackRock's IBIT, Fidelity's FBTC, Bitwise's BITB, and Grayscale's BTC. This move aligns Bank of America with institutions such as BlackRock and Morgan Stanley. Hours ago, Vanguard announced that it would allow clients access to crypto ETFs.