Wells Fargo, one of the largest U.S. banks with $2.5 trillion in assets under management, has significantly reshaped its crypto portfolio, a recent SEC filing reveals. The bank increased its stake in Michael Saylor’s Strategy (MSTR) by 125% to nearly 726,000 shares, adding roughly $41.5 million in exposure, while simultaneously rebalancing its Bitcoin ETF positions. Although it trimmed holdings in BlackRock’s iShares Bitcoin Trust (IBIT) by 75,102 shares and also reduced positions in the Invesco Galaxy Bitcoin ETF, the ARK 21Shares Bitcoin ETF, and the Fidelity Wise Origin Bitcoin Fund, Wells Fargo boosted other Bitcoin ETFs. It grew its stake in the Bitwise Bitcoin ETF (BITB) by 24% and added to the Grayscale Bitcoin Mini Trust and Grayscale Bitcoin Trust (GBTC). The bank also opened new IBIT call options and increased put exposure amid market uncertainty linked to the U.S.-Iran conflict.
Ethereum-linked investments moved sharply higher. Wells Fargo raised its holdings in BlackRock’s iShares Ethereum Trust (ETHA) by about 65%, reaching over 1.10 million shares worth some $17.56 million. It also reported ownership of Bitwise’s Ethereum ETF, the Grayscale Ethereum Staking ETF, and VanEck’s Ethereum ETF. For the first time, the bank disclosed Solana positions, purchasing 13,280 shares of the Grayscale Solana Trust and 1,638 shares of the Fidelity Solana Fund.
Beyond ETFs, Wells Fargo ramped up crypto-related stocks. Its Bitmine Immersion stake surged 828% to 21,547 shares, tapping the company’s Ethereum treasury strategy, and it opened new positions in American Bitcoin Corp. and Strive Asset Management’s treasury vehicle. The bank also increased its Robinhood holding by 65% to 2.56 million shares while adding put options. Meanwhile, it slashed its Galaxy Digital stake by roughly 97% and trimmed its Coinbase position by 25%.
Separate data from SoSoValue showed that U.S. spot Bitcoin ETFs attracted $266 million in net inflows on July 6, with BlackRock’s IBIT contributing $209 million of the total. Ethereum spot ETFs added $29.082 million, led by BlackRock’s ETHA with $29.742 million. The broader trend points to sustained institutional demand for regulated crypto investment products despite market volatility.
