Wells Fargo Boosts Bitcoin and Ethereum ETF Holdings in Q1, Cuts Galaxy Digital 97%

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According to Bits.media and SEC filings, Wells Fargo increased its holdings in Bitcoin and Ethereum ETFs during Q1 2026. The bank's Bitcoin ETF investments grew approximately 24% to 41%, with iShares Bitcoin Trust remaining its largest position at around $250 million. Ethereum ETF holdings also expanded, with positions in iShares Ethereum Trust (ETHA) and Bitwise Ethereum ETF (ETHW) rising 63.5% and 37% respectively, totaling approximately $21.5 million. Additionally, Wells Fargo significantly restructured its crypto-related equity holdings, slashing Galaxy Digital shares by 97% from 2.5 million to 78,600 shares, while increasing Strategy holdings by 125% to approximately 726,000 shares.
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