Wells Fargo increased its ETH ETF holdings in the first quarter while significantly adding to its Strategy stock positions.

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Goldman Sachs reports that on May 12, Wells Fargo’s latest 13F filing shows that in the first quarter of 2026, it increased holdings in several Ethereum spot ETFs, including BlackRock’s ETHA and Bitwise ETHW. Among them, the ETHA holdings increased from approximately 672.6k shares in Q4 2025 to about 1.1 million shares, an increase of approximately 63.5%; ETHW holdings grew from about 186.8k shares to approximately 257k shares, an increase of about 37%. As of the end of the first quarter, Wells Fargo’s total value of ETH ETFs held was approximately $21.5 million.
In contrast, its Bitcoin ETF holdings showed divergence: IBIT holdings slightly decreased, while BITB and Grayscale Bitcoin Mini Trust ETF holdings increased by approximately 24% and 41%, respectively. Currently, IBIT remains its largest crypto ETF holding, with a scale of about $250 million. Additionally, Wells Fargo significantly adjusted its crypto-related stock positions, reducing its holdings in Galaxy Digital by about 97%, while its position in Strategy increased from approximately 322.7k shares to 726k shares, an increase of about 125%.

ETH-2.41%
ETHW-4.69%
BTC-1.54%
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