Bank of America Corporation (BAC) to Start Recommending Crypto Allocations

​Bank of America Corporation (NYSE:BAC) is one of the Cheap NYSE Stocks to Buy Now. On December 4, Reuters reported that Bank of America Corporation (NYSE:BAC) is allowing its wealth advisers to recommend crypto allocations in client portfolios starting next month.

​According to the report, since early 2024, specific clients with assets meeting certain predetermined thresholds have had access to bitcoin ETFs. However, now will also be able to advise crypto exchange-traded products without any asset class thresholds.

​This move comes as the Trump administration is providing regulatory relief for asset classes. Chris Hyzy, Chief Investment Officer for Merrill and Bank of America Private Bank, noted, “for investors with a strong interest in thematic innovation and comfort with elevated volatility, a modest allocation of 1% to 4% in digital assets could be appropriate.”

In addition, the share price of Bank of America Corporation (NYSE:BAC) has risen around 8% since its fiscal Q3 2025 earnings release announced on October 15. The company grew its quarterly revenue by 10.82% to $28.09 billion, surpassing estimates by $629.76 million. The EPS of $1.06 also topped estimates by $0.11. Management noted that out of the $29.09 billion revenue $11.3 billion came from sales and trading, investment banking, and asset management fees, reflecting 15% year-over-year growth.

Bank of America Corporation (NYSE:BAC) is a financial institution that caters to consumers, businesses, institutional investors, and government clients. Its operations are divided into four segments: Consumer Banking, Global Wealth and Investment Management, Global Banking, and Global Markets.

While we acknowledge the potential of BAC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.