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Bank of America Forms New Crypto Research Team

Crypto Market Trends Anticipated

Spot Ether ETFs Expected

Bank of America Corp has formed a new research team, led by Alkesh Shah, to investigate cryptocurrency markets. This move comes amid a period of heightened interest in digital assets, which have been acting as risk assets falling as global interest rates rise. BofA estimates that about 221 million users have traded a cryptocurrency or used a blockchain in the past three years. The bank's new research team will focus on analyzing the crypto market, identifying trends, and providing insights to clients.

The formation of Bank of America's crypto research team is a sign that the bank is taking the cryptocurrency market seriously. This move is likely to be followed by other banks and financial institutions as the crypto market continues to grow and mature. The team will be led by Alkesh Shah, who has extensive experience in the financial industry. Shah has previously worked at Goldman Sachs and Morgan Stanley, where he covered the technology and telecommunications sectors.

The crypto market has been in a state of flux in recent months, with prices falling sharply as global interest rates have risen. However, many experts believe that the long-term prospects for crypto are still positive. The formation of Bank of America's crypto research team is a sign that the bank is confident in the future of digital assets.