Key facts
- Wells Fargo disclosed 6.5 million shares in BlackRock Bitcoin ETF (IBIT).
- The bank increased its stake in MicroStrategy (MSTR) by 125% to nearly 726,000 shares.
- Ethereum ETF holdings saw a 65% rise in BlackRock Ethereum ETF (ETHA) shares, totaling over 1.10 million.
- New exposure to Solana ETFs, including Grayscale's GSOL and Fidelity Solana Fund (FSOL), was revealed.
- Holdings in Bitmine Immersion's BMNR increased by 828% to 21,547 stocks.
- Wells Fargo reduced its stake in Galaxy Digital by approximately 97% and in Coinbase by 25%.
Wells Fargo, a major financial institution with $2.5 trillion in assets under management, has disclosed significant investments in the cryptocurrency space through its latest SEC filing. The bank revealed substantial holdings in various Bitcoin and Ethereum Exchange Traded Funds (ETFs), alongside increased positions in crypto-related stocks.
In its filing, Wells Fargo showed 6.5 million shares in the BlackRock Bitcoin ETF (IBIT), though this represents a decrease from the previous quarter. The bank also reduced its exposure to other Bitcoin ETFs, including Invesco Galaxy Bitcoin ETF (BTCO), Ark 21Shares Bitcoin ETF, and Fidelity Bitcoin ETF (FBTC). However, its Bitcoin exposure increased in the Grayscale Bitcoin Mini ETF, Bitwise’s BITB, and GBTC, with BITB holdings rising 24% quarter-on-quarter.
Wells Fargo also significantly boosted its Ethereum ETF holdings, acquiring over 1.10 million shares in BlackRock Ethereum ETF (ETHA), a 65% increase. Additional Ethereum ETF holdings include Bitwise Ethereum ETF, Grayscale Ethereum Staking ETF, and VanEck’s ETHV shares. The bank also disclosed new exposure to Solana ETFs, purchasing shares in Grayscale’s GSOL and Fidelity Solana Fund (FSOL).
On the crypto stock front, Wells Fargo substantially increased its position in MicroStrategy (MSTR), boosting its shares by 125% to nearly 726,000, adding an estimated $41.5 million in exposure. New holdings were also revealed in American Bitcoin Corp (ABTC) and Strive (ASST). The bank significantly increased its stake in Bitmine Immersion’s BMNR by 828%, bringing its Ethereum treasury exposure to $426,000. Robinhood (HOOD) shareholdings also jumped, with Wells Fargo opening put option positions. Conversely, the bank sharply reduced its stake in Galaxy Digital by about 97% and in Coinbase (COIN) by 25%, indicating a strategic shift away from certain crypto-focused companies.