Bank of America recommends up to 4% crypto allocation for wealth portfolios

Canary Capital has launched the HBAR ETF on Vanguard's platform, allowing investors to access Hedera's cryptocurrency through their brokerage accounts. This move marks a significant step in making cryptocurrency investments more accessible to a broader audience.

Bank of America has authorized its 15,000 advisers to recommend a cryptocurrency allocation of 1% to 4% for wealth clients, marking a significant shift in Wall Street's approach to Bitcoin and digital assets. This decision reflects a growing acceptance of cryptocurrencies among traditional financial institutions.

Kraken has announced its acquisition of Backed Finance, a strategic move aimed at enhancing its tokenization strategy and potentially accelerating the integration of traditional finance with blockchain technology. This acquisition is expected to bolster institutional adoption of cryptocurrencies.

Bank of America has authorized its wealth advisers to recommend a cryptocurrency allocation of up to 4% for clients, marking a significant shift in the bank's approach to digital assets. This decision allows for the inclusion of Bitcoin ETFs in wealth management strategies for the first time, reflecting a growing acceptance of cryptocurrencies among institutional investors.

BlackRock has transferred 1,633 Bitcoin to Coinbase Prime, underscoring the evolving landscape of institutional cryptocurrency management amid a competitive environment for exchange-traded funds (ETFs). This transfer reflects BlackRock's ongoing engagement with digital assets as part of its investment strategy.

Kalshi has successfully raised $1 billion in its latest funding round, resulting in a valuation of $11 billion. This significant financial boost positions Kalshi as a leading player in the prediction market sector, regulated by the Commodities Futures Trading Commission.

The US Securities and Exchange Commission (SEC) is set to introduce an innovation exemption for cryptocurrency firms in January, a move that could significantly boost the adoption of crypto technologies in the United States. This exemption aims to streamline regulatory processes for innovative blockchain projects, potentially positioning the US as a leader in the global crypto landscape.

Bank of America has announced that its wealthiest clients will have access to Bitcoin ETFs, allowing its network of over 15,000 wealth advisers to recommend a cryptocurrency allocation of 1% to 4% for the first time. This marks a significant shift in the bank's approach to digital assets, reflecting a growing acceptance of cryptocurrencies in traditional finance.