Bank of America is integrating crypto more formally into its U.S. wealth business, enabling advisers across Merrill, Bank of America Private Bank, and Merrill Edge to proactively recommend spot Bitcoin exchange-traded funds (ETFs).
The bank’s Chief Investment Office (CIO) has approved four U.S.-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).
These four ETFs are among the largest and most liquid spot Bitcoin products available, making them easier for the bank to underwrite operationally and manage from a regulatory risk perspective compared with smaller, more complex, or leveraged vehicles.
Samar Sen, APAC head at institutional trading platform Talos, told Cointelegraph: “These four are among the leading digital asset ETFs due to their experience, assets under management, and track record. They’ve also invested in sophisticated infrastructure that enables efficient risk management and execution.”
Bank of America is formalizing crypto within its U.S. wealth business, allowing advisers at Merrill, Bank of America Private Bank, and Merrill Edge to proactively recommend spot Bitcoin exchange-traded funds (ETFs).
The bank’s Chief Investment Office (CIO) has approved four U.S.-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).
These ETFs rank among the largest and most liquid spot Bitcoin products, making them easier for the bank to underwrite operationally and manage from a regulatory standpoint compared with smaller, more complex, or leveraged vehicles.
Samar Sen, APAC head at institutional trading platform Talos, told Cointelegraph: “These four are among the leading digital asset ETFs due to their experience, assets under management, and track record. They’ve also invested in sophisticated infrastructure that allows efficient risk management and execution.”
Bitcoin first, Ether still uncertain
Currently, all products approved by Bank of America’s CIO are Bitcoin-focused, with no public commitment to adding Ether or other digital asset ETPs.
This raises a key question for the next stage of institutional adoption: if and when spot Ether ETFs might receive similar approval on major U.S. wealth platforms.
Sen noted that any expansion beyond Bitcoin will likely hinge on liquidity, market structure maturity, and the ability to provide institutional-grade execution and risk controls at scale. “We’re already seeing large asset managers explore innovations in this space, including multi-asset ETF structures, such as baskets of the largest cryptocurrencies by market capitalization,” he said.
At the time of publication, Bank of America had not commented on potential plans for Ether products.
