Wells Fargo reported bigger positions in Ether exchange-traded funds in the primary quarter whereas reshuffling its Bitcoin ETF holdings throughout a number of merchandise, based on its newest Securities and Trade Fee submitting.
The financial institution stated it raised its holdings in Ether (ETH) ETFs, together with BlackRock’s iShares Ethereum Belief ETF (ETHA) and the Bitwise Ethereum ETF (ETHW), according to its newest Type 13F submitting launched on Monday.
ETHA rose 63.5% from about 672,600 shares in Q4 2025 to roughly 1.1 million shares in Q1 2026, whereas ETHW elevated by 37% from about 186,800 to greater than 257,000 shares, exhibiting a broad-based improve throughout Ether-linked funds.
Bitcoin (BTC) ETF publicity, in contrast, confirmed a extra blended sample: positions in the iShares Bitcoin Belief ETF (IBIT) have been barely lowered, whereas Bitwise Bitcoin ETF Belief (BITB) and Grayscale Bitcoin Mini Belief ETF (BTC) holdings elevated by roughly 24% and 41%, respectively.
The submitting suggests Wells Fargo reported bigger Ether ETF positions at quarter-end, whilst its Bitcoin ETF publicity was extra blended.
Accumulation amid ETH value dip
Wells Fargo’s Ether ETF accumulation got here throughout a interval of weakening spot costs. In response to CoinGlass knowledge, Ethereum posted two consecutive quarterly declines, falling round 28% in This fall 2025 and 29% in Q1 2026.
Over the identical interval, spot Ether ETFs noticed sustained outflows, totaling roughly $769 million throughout three straight months of withdrawals.
Ethereum quarterly value efficiency knowledge, 2025–2026. Supply: CoinGlass
Regardless of the broader downturn, Wells Fargo held round $21.5 million in Ether ETFs in Q1 2026, with ETHA as the most important place at $17.6 million.
Bitcoin dominates holdings, fairness rotations favor Strategy over Galaxy
Bitcoin ETFs stay the dominant crypto ETF publicity in Wells Fargo’s portfolio, with IBIT making up the majority of the publicity at roughly $250 million.
In equities, Wells Fargo made a extra pronounced shift in crypto-linked holdings. The financial institution considerably lowered its stake in Michael Novogratz’s Galaxy Digital (GLXY), reducing its place from about 2.5 million shares in This fall 2025 to roughly 78,600 shares in Q1 2026, a decline of almost 97% and an estimated $54.7 million discount in publicity.
Associated: Galaxy Digital posts $216M Q1 loss as crypto market slides 20%
However, Wells Fargo considerably elevated publicity to Michael Saylor’s Strategy, the world’s largest public Bitcoin holder.
The financial institution raised its stake from about 322,700 shares in This fall 2025 to roughly 726,000 shares in Q1 2026, a achieve of round 403,000 shares, or 125%, and an estimated $41.6 million improve in publicity.
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