Vanguard, the world's second-largest asset management company, has reversed its stance, and Bank of America recommends interested investors allocate 1%-4% of digital assets.

On December 3, Bitcoin's price surged significantly on Tuesday, December 3, breaking the $92,000 mark at one point. Prior to this, it was reported that major global asset management company Vanguard would allow investors to trade BlackRock's Bitcoin Spot ETF. William Stern, founder of Cardiff, stated in an email: “We just received news that the anti-crypto fortress - Vanguard has finally opened the door to the Spot Bitcoin ETF. When the world's second-largest asset management company shifts from 'critic' to 'distributor', it sends a signal to every financial advisor in the U.S.: the coast is clear. The market is actively rushing to capitalize on the impending influx of capital.” Brian Huang, co-founder of fintech company Glider, also commented on this issue. In an email comment, he stated: “A bombshell news came overnight, Vanguard will now allow trading of crypto ETFs on its platform. They have been one of the main opponents of cryptocurrencies in the past, and now they are shifting from the old investment mindset. They want to protect their clients, but it is now clear that the demand for digital asset investment exceeds the risks they perceive.” He also highlighted the latest developments from Bank of America, which recently indicated an open attitude towards clients incorporating cryptocurrencies into their portfolios. Chris Hyzy, Chief Investment Officer of Merrill and Bank of America Private Bank, stated in a statement: “For investors who have a strong interest in thematic innovation and can accept higher fluctuations, it may be appropriate to moderately allocate 1% to 4% of their portfolio to digital assets.” Brian Huang described this as “another giant announcement”, emphasizing that “despite the price movement, institutional adoption has not slowed down.” He also stressed that Bitcoin may face further declines in the short term, noting: “The recent pain may not be over, as venture capitalists like Chris Burniske from Placeholder have stated that Bitcoin only makes sense below $75,000.” However, he added: “In the long run, it seems that everyone agrees that Bitcoin will inevitably reach $150,000 - it's just a matter of time.”