BofA survey shows 97% of managers steer clear of crypto

Bank of America's (BofA) August survey found that 97% of institutional fund managers are staying out of cryptocurrencies, BeInCrypto reported. Among the small share that does invest, the average portfolio allocation was only 3.2%. Meanwhile, a net 14% of managers held more stocks than their benchmarks, up from just 2% a month earlier. The survey covered 211 fund managers.