3rd December 2025 > > The Economist, Bank of America, & GENIUS.
- Mark Timmis
- 3 days ago
- 2 min read
tl;dr
Is The Economist about to emerge from the dark side? Bank of America responds correctly to client demands. The GENIUS Act will soon be in place.
Market Snap
Market Wrap
That is an unwelcome jump in the open interest for BTC perps. Clearly, a whole new bunch of suckers are prepared to lose hard-earned cash to the sharks that infest the perp market, preying on the weak and vulnerable who have neither the tools nor the capital to maintain risk-management discipline.
Spot BTC ETFs inflows have been small, but positive, every day this week. Bank of America will add to that buying pressure from January – read on for details.
Curious Crypto’s Commentary – The Economist
The Economist’s editorial line is to be crypto-sceptical in tune with its world-view and its previous sister publication The Financial Times.
Perhaps things are changing, and for the better:
Curious Crypto’s Commentary – Now the Bank of America
I have long maintained that over time 3% to 5% of all investment monies will flow into cryptos, principally BTC. I think we increasingly see evidence that perhaps my forecast is on the conservative side, which would be nice if that eventually turns out to be the case.
Bank of America has until now allowed its retail clients to access spot BTC ETFs on demand but did not automatically offer those products. Nor did it allow its advisors to recommend cryptos as part of a client’s portfolio.
After yesterday’s stunning news of Vanguard’s 180 degree pivot in favour of cryptos, Bank of America is now recommending a 1% to 4% allocation to cryptos, a weighting it describes as “modest”:
Of course, the reason for this change is highly predictable. Nancy Fahmy, head of Bank of America's investment solutions, explains what is frankly obvious to everyone:
"This update reflects growing client demand for access to digital assets.”
None of this comes as a surprise to regular readers who have long been positioned in advance of the incoming tsunami of investment cash heading cryptos’ way.
Curious Crypto’s Commentary – GENIUS
The GENIUS Act (Guiding and Establishing National Innovation for US Stablecoins) was passed by both houses and signed into law by Trump back in July 2025.
Unfortunately the bureaucratic wheels spin even more slowly than the legislative ones. FDIC (US Federal Deposit Insurance Corporation) will finally make proposals for the implementation of GENIUS later this month. Acting Chair, Travis Hill will appear before the House Financial Services Committee on Tuesday to parrot this pre-prepared speech:
The key bit is this:
“The FDIC has begun work to promulgate rules to implement the GENIUS Act; we expect to issue a proposed rule to establish our application framework later this month.”
It will be several months later at least until we see the finalised rules and procedures in place. It is frustrating for all of us I know but, once fully implemented, the GENIUS Act will provide regulatory clarity that will help to accelerate the crypto revolution. Advancements like this, and the looming prospect of total yield curve control in the US, bolsters my firmly held opinion that price action in 2026 will prove that the days of the four-year cycle are well and truly over.
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