Bank of America revisits its position regarding cryptocurrencies

Bank of America recommends that its wealthy clients invest between 1% and 4% of their portfolios in cryptocurrencies. Starting January 5, more than 15,000 advisors, previously prohibited from recommending digital assets, will now be able to offer Bitcoin ETFs to their wealthiest clients.

The bank will cover four Bitcoin ETFs: IBIT from BlackRock, FBTC from Fidelity, BITB from Bitwise, and Bitcoin Mini Trust from Grayscale.

What triggered this sudden change within these major banks?