Which banks now recommend crypto ETFs?

TLDR

Banks now publicly recommending or endorsing crypto ETFs include Bank of America, which lets advisers recommend spot Bitcoin ETFs to clients starting 5 Jan (policy update). Morgan Stanley removed advisor restrictions and has now filed its own crypto ETFs, signaling active endorsement (Reuters).

1. Bank of America (BAC): advisers can recommend four spot Bitcoin ETFs to eligible clients (Cointelegraph).
2. Morgan Stanley (MS): lifted advisor limits and filed Bitcoin and Solana ETF products (Reuters).
3. Policies vary by bank and client suitability; recommend means inclusion in standard portfolio planning, not blanket advice (TradingView note).

Deep Dive

1. Bank of America

Bank of America now allows wealth advisers across Merrill, Private Bank, and Merrill Edge to proactively recommend spot Bitcoin ETFs.

• The bank approved coverage of Bitwise BITB, Fidelity FBTC, Grayscale Bitcoin Mini Trust, and BlackRock IBIT, integrating crypto ETFs into normal portfolio discussions (Cointelegraph).
• Internal guidance points to a modest 14% allocation for suitable clients, reflecting risk controls and suitability rules (policy update).
• This shifts crypto exposure from client?initiated requests to adviser?led recommendations for eligible accounts (TradingView note).

2. Morgan Stanley

Morgan Stanley has moved from broad access to third?party crypto funds to manufacturing its own ETFs, signaling a stronger stance.

• The bank filed for ETFs tied to Bitcoin and Solana prices, a first among major US banks, indicating an active product push rather than passive access (Reuters).
• Commentary notes MS previously dropped restrictions on advisers recommending crypto ETFs, and is now leveraging its distribution by bringing its own products to market (analysis).
• Filing its own ETFs implies readiness to integrate crypto ETFs into its advisory and platform ecosystem beyond third?party offerings (Reuters).

3. Context And Caveats

Banks differ in how far they go: some enable recommendations, others focus on custody or tokenization.

• BACs move is explicit adviser recommendation integration, whereas MSs filings signal product endorsement and platform integration rather than a blanket buy stance (policy update, Reuters).
• Other institutions (JPMorgan, Citi, Goldman) lean into tokenization, trading desks, or custody, but not all have public adviser?recommendation policies on crypto ETFs right now (context).

Conclusion

Bank of America now formally lets advisers recommend spot Bitcoin ETFs, and Morgan Stanleys filings mark a step beyond access into bank?manufactured crypto ETFs. The practical impact is easier, policy?supported ETF exposure for qualified clients. If you want exposure, the next step is confirming your banks suitability rules and which ETFs are approved on your platform.