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<h2 id="bank-doubles-down-on-ether-etfs-despite-price-weakness">Bank Doubles Down on Ether ETFs Despite Price Weakness</h2>
<p>Wells Fargo significantly increased its Ethereum <a href="https://x.com/search?q=%24ETH&amp;src=cashtag_click" rel="noopener noreferrer nofollow">$ETH</a> exchange-traded fund holdings in the first quarter of 2026, according to a Form 13F filing submitted to the U.S. Securities and Exchange Commission. The disclosure points to a deliberate expansion of the bank's regulated digital asset exposure, even as Ethereum's spot price came under pressure.</p>
<p><cite>The filing reveals that the bank increased its positions in BlackRock's iShares Ethereum Trust ETF (ETHA) and the Bitwise Ethereum ETF (ETHW), with gains of 63.5% and 37% respectively compared to the previous quarter.</cite> In share terms, <cite>ETHA holdings rose from approximately 672,600 shares in Q4 2025 to nearly 1.1 million in Q1 2026, while ETHW grew from around 186,800 to more than 257,000 units.</cite></p>
<p><cite>At the close of the quarter, Wells Fargo held approximately $21.5 million in these instruments, with ETHA as the primary position, valued at around $17.6 million.</cite> The move is notable given the backdrop: <cite>CoinGlass data show Ether fell about 28% in the fourth quarter of last year and about 29% in the first quarter of this year, marking a second straight quarterly decline.</cite><cite>Over the same period, spot Ether ETFs recorded about $769 million in net outflows.</cite></p>
<h2 id="broader-crypto-portfolio-bitcoin-dominates-equity-positions-reshuffled">Broader Crypto Portfolio: Bitcoin Dominates, Equity Positions Reshuffled</h2>
<p>Ethereum was not the only area of activity. <cite>For Bitcoin ETFs, the pattern was more mixed. Holdings in the iShares Bitcoin Trust ETF (IBIT) recorded a slight decline, while the Bitwise Bitcoin ETF Trust (BITB) and the Grayscale Bitcoin Mini Trust ETF grew by 24% and 41% respectively.</cite><cite>IBIT remains the dominant position in the bank's crypto portfolio, with an approximate valuation of $250 million.</cite></p>
<p>On the equities side, the moves were more striking. <cite>The most notable shift was a near-total exit from Galaxy Digital, the firm led by Michael Novogratz. The bank reduced its stake from around 2.5 million shares in Q4 2025 to just 78,600 in Q1 2026, a 97% drop equivalent to an estimated reduction of $54.7 million in exposure.</cite> At the same time, <cite>Wells Fargo boosted its Strategy (formerly MicroStrategy) holdings by 125% to roughly 726,000 shares.</cite></p>
<p><cite>A 13F is a snapshot of long equity and options positions held at the end of a calendar quarter and does not reflect real-time holdings, meaning positions may have been opened or closed between the reporting date and the filing's public availability.</cite> Still, the data adds to a growing body of evidence that large financial institutions are building structured exposure to digital assets through regulated vehicles, even during periods of market weakness.</p>
<p><b>Sources:</b><br><a href="https://cointelegraph.com/news/wells-fargo-ether-etf-boost-q1-2026-btc-rotation" rel="noopener noreferrer nofollow">CoinTelegraph: Wells Fargo Lifts Ether ETF Holdings in Q1 as Bitcoin Positions Shift</a><br><a href="https://crypto-economy.com/wells-fargo-boosts-ether-etf-exposure-and-reshuffles-bitcoin-holdings-in-latest-filing/" rel="noopener noreferrer nofollow">Crypto Economy: Wells Fargo Boosts Ether ETF Exposure and Reshuffles Bitcoin Holdings in Latest Filing</a></p>

Wells Fargo Expands Ethereum Exposure

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