Which banks approved BTC ETF allocations?

TLDR

Bank of America is the major bank that has formally approved adviser?led allocations into spot Bitcoin (BTC) ETFs.

1. Bank of Americas CIO approved coverage of IBIT, FBTC, BITB, and Grayscale Mini, enabling adviser recommendations with a 1%4% guideline (Cointelegraph report).
2. Media summaries confirm the shift from client?led to adviser?led BTC ETF access across Merrill and Private Bank units (TradingView/CT summary).
3. Other institutions are broadening crypto offerings, but similar formal allocation approval was not evidenced this week (Yahoo Finance recap).

Deep Dive

1. Bank of America Move

Bank of Americas chief investment office approved four spot BTC ETFs for adviser?led recommendations and published guidance framing crypto as a 1%4% portfolio sleeve.

1. Approved funds: iShares Bitcoin Trust (IBIT), Fidelity Wise Origin (FBTC), Bitwise Bitcoin (BITB), and Grayscale Bitcoin Mini (Cointelegraph report).
2. The shift now allows advisers across Merrill, Private Bank, and Merrill Edge to proactively recommend these ETFs, not just execute client?initiated requests (TradingView/CT summary).
3. Coverage and allocation guidance were highlighted in mainstream finance media and recaps (Yahoo Finance recap).

2. What Approval Means

Approval here refers to internal CIO coverage and permission for advisers to recommend specific BTC ETFs, with an allocation range for suitable clients.

1. It is not a blanket directive; suitability and risk tolerance still govern recommendations (Cointelegraph report).
2. Adviser training and formal guidance are being rolled out, indicating institutional normalization of BTC ETF access (TradingView/CT summary).

3. Others To Watch

Coverage this week highlighted broader institutional engagement, but did not show other banks issuing comparable approved allocation notices.

1. Commentaries noted growing ETF usage and institutionalization, but stopped short of naming other banks with identical approval frameworks (Yahoo Finance recap).
2. Industry trend pieces discuss inclusion of crypto via ETFs and platforms, which supports momentum but is distinct from formal CIO allocation approval (Forbes trends piece).

Conclusion

The bank clearly documented as approving adviser?led BTC ETF allocations this week is Bank of America, with defined ETF coverage and a 1%4% allocation framework. Others are expanding crypto access, but comparable formal allocation approvals were not evidenced in the past seven days. If you want confirmation for a specific institution, look for CIO coverage notes or adviser guidance memos on BTC ETFs.