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Bank of America is launching a crypto research team as institutional interest in digital assets rises

Bank of America is launching a crypto research team as institutional interest in digital assets rises


Michael Brochstein/SOPA Images/LightRocket via Getty Images




The new operation will be run by Alkesh Shah, who previously led the firm's Global Technology Specialist team, according to a memo obtained by Insider. Bloomberg was first to report.




"Cryptocurrencies and digital assets constitute one of the fastest growing emerging technology ecosystems," the memo said.




Joining Shah's team are Mamta Jain and Andrew Moss.




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Bank of America is launching a cryptocurrency research team as institutional interest in the digital asset space continues to rise.The new operation will be run by Alkesh Shah, who previously led the firm's global technology specialist team, according to a memo obtained by Insider. Bloomberg was first to report. Shah will report to Michael Maras, the head of global fixed-income, currency, and commodity research for BofA.The memo, dated July 8, was written by Candace Browning, head of global research, and addressed to Merrill Lynch Wealth Management employees and partners. "Cryptocurrencies and digital assets constitute one of the fastest growing emerging technology ecosystems," Browning said, adding that the sector is currently valued at about $2 trillion.
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