Wells Fargo increased its holdings in Ethereum ETFs and Strategy stocks in the first quarter, while reducing its Galaxy Digital holdings by nearly 97%.

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Wells Fargo’s filing of the 13F form for the first quarter of 2026 with the U.S. Securities and Exchange Commission (SEC) shows that the bank significantly increased its holdings in Ethereum ETFs. Specifically, the holdings of the BlackRock iShares Ethereum Trust (ETHA) rose from approximately 672.6k shares in Q4 2025 to about 1.1 million shares, a 63.5% increase; the Bitwise Ethereum ETF (ETHW) holdings grew by 37% to 257k shares. Despite Ethereum’s price dropping about 29% in the first quarter and overall outflows from spot Ethereum ETFs, Wells Fargo’s total Ethereum ETF holdings still reached approximately $21.5 million. Additionally, the bank made substantial adjustments to related stock positions, reducing its stake in Galaxy Digital, owned by Michael Novogratz, by nearly 97% (about $54.7 million), while increasing its holdings of MicroStrategy (MSTR), owned by Michael Saylor, by 125% to approximately 726k shares. (Cointelegraph)

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