Bane was selected with the 30th pick in the 2020 NBA draft by the Boston Celtics. He became the first TCU player to be picked in the first round since 1995. Bane was subsequently traded to the Memphis Grizzlies. On November 25, 2020, the Memphis Grizzlies announced that they had signed Bane. Bane was selected to the All-Rookie Second Team after his rookie season. He had the highest three point field goal percentage in a rookie season since Stephen Curry (minimum 150 attempts). He is the all time leader in three point field goal percentage in franchise history.