1 month ago
Wells Fargo reported larger positions successful Ether exchange-traded funds successful the archetypal 4th portion reshuffling its Bitcoin ETF holdings crossed respective products, according to its latest Securities and Exchange Commission filing.
The slope said it raised its holdings successful Ether (ETH) ETFs, including BlackRock’s iShares Ethereum Trust ETF (ETHA) and the Bitwise Ethereum ETF (ETHW), according to its latest Form 13F filing released connected Monday.
ETHA roseate 63.5% from astir 672,600 shares successful Q4 2025 to astir 1.1 cardinal shares successful Q1 2026, portion ETHW accrued by 37% from astir 186,800 to much than 257,000 shares, showing a broad-based summation crossed Ether-linked funds.
Bitcoin (BTC) ETF exposure, by contrast, showed a much mixed pattern: positions successful the iShares Bitcoin Trust ETF (IBIT) were somewhat reduced, portion Bitwise Bitcoin ETF Trust (BITB) and Grayscale Bitcoin Mini Trust ETF (BTC) holdings accrued by astir 24% and 41%, respectively.
The filing suggests Wells Fargo reported larger Ether ETF positions astatine quarter-end, adjacent arsenic its Bitcoin ETF vulnerability was much mixed.
Accumulation amid ETH terms dip
Wells Fargo’s Ether ETF accumulation came during a play of weakening spot prices. According to CoinGlass data, Ethereum posted 2 consecutive quarterly declines, falling astir 28% successful Q4 2025 and 29% successful Q1 2026.
Over the aforesaid period, spot Ether ETFs saw sustained outflows, totaling astir $769 million crossed 3 consecutive months of withdrawals.
Ethereum quarterly terms show data, 2025–2026. Source: CoinGlass
Despite the broader downturn, Wells Fargo held astir $21.5 cardinal successful Ether ETFs successful Q1 2026, with ETHA arsenic the largest presumption astatine $17.6 million.
Bitcoin dominates holdings, equity rotations favour Strategy implicit Galaxy
Bitcoin ETFs stay the ascendant crypto ETF vulnerability successful Wells Fargo’s portfolio, with IBIT making up the bulk of the vulnerability astatine astir $250 million.
In equities, Wells Fargo made a much pronounced displacement successful crypto-linked holdings. The slope importantly reduced its involvement successful Michael Novogratz’s Galaxy Digital (GLXY), cutting its presumption from astir 2.5 cardinal shares successful Q4 2025 to astir 78,600 shares successful Q1 2026, a diminution of astir 97% and an estimated $54.7 cardinal simplification successful exposure.
Related: Galaxy Digital posts $216M Q1 nonaccomplishment arsenic crypto marketplace slides 20%
On the different hand, Wells Fargo importantly accrued vulnerability to Michael Saylor’s Strategy, the world’s largest nationalist Bitcoin holder.
The slope raised its involvement from astir 322,700 shares successful Q4 2025 to astir 726,000 shares successful Q1 2026, a summation of astir 403,000 shares, oregon 125%, and an estimated $41.6 cardinal summation successful exposure.
Cointelegraph is committed to independent, transparent journalism. This quality nonfiction is produced successful accordance with Cointelegraph’s Editorial Policy and aims to supply close and timely information. Readers are encouraged to verify accusation independently.
English (US) 