Wells Fargo Adjusts Coin ETF Holdings... 'Sweeps Up' Strategy (MSTR) and BitMine (BMNR)

▲ Wells Fargo (WFC), Bitcoin (BTC), Ethereum (ETH), Solana (SOL)/AI-generated image

Wells Fargo (WFC), a major Wall Street bank managing $2.5 trillion, adjusted its investments in Bitcoin (BTC) and Ethereum (ETH) ETFs and aggressively increased its stakes in Strategy (MSTR) and BitMine Immersion (BMNR).

According to crypto media outlet Coingape on July 9 (local time), Wells Fargo disclosed its crypto-related investment status, including Bitcoin, Ethereum, and Solana (SOL) ETFs, in its latest U.S. Securities and Exchange Commission (SEC) filing. It held 6.5 million shares of BlackRock Bitcoin ETF IBIT, newly established call positions, and expanded put positions.

IBIT holdings decreased by 75,102 shares compared to the fourth quarter. Investments in Invesco Galaxy Bitcoin ETF BTCO, Ark 21Shares Bitcoin ETF, and Fidelity Bitcoin ETF FBTC were also reduced. Conversely, holdings in Grayscale Bitcoin Mini ETF, BITB, and GBTC increased, with BITB growing by 24% quarter-over-quarter.

Expanded buying was prominent in Ethereum and Solana ETFs. Wells Fargo's ETHA holdings increased by 65%, exceeding 1.1 million shares, with a valuation of $17.56 million. It also held 257,157 shares of Bitwise Ethereum ETF, 4,637 shares of Grayscale Ethereum Staking ETF, and 623 shares of ETHV. It also newly entered Solana ETFs, acquiring 13,280 shares of GSOL and 1,638 shares of FSOL.

Investments in crypto-related stocks also significantly increased. Strategy holdings surged by 125% to approximately 726,000 shares, adding about $41.5 million to the investment. BitMine holdings skyrocketed by 828% from 2,323 shares to 21,547 shares, and investments in Ethereum reserve companies increased to $426,000. Robinhood Markets (HOOD) stake also grew by 65% to 2.56 million shares.

Wells Fargo also newly invested in the Trump family's American Bitcoin Corp (ABTC) and Strive (ASST). It reduced its stake in Galaxy Digital by approximately 97% and Coinbase (COIN) by 25%. Wells Fargo's latest filing shows that it adjusted its Bitcoin ETF holdings while expanding investments in Ethereum and Solana ETFs and certain crypto-related stocks.

[Article Key Summary]

-Wells Fargo holds 6.5 million shares of IBIT, while increasing BITB holdings by 24% quarter-over-quarter and ETHA holdings by 65%.

-Strategy holdings increased by 125% to approximately 726,000 shares, and BitMine holdings surged by 828% to 21,547 shares.

-Wells Fargo newly invested in Solana ETFs and American Bitcoin, while reducing stakes in Galaxy Digital and Coinbase.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*