Wells Fargo increased its holdings of Bitcoin and Ethereum ETFs and Strategy shares in Q1, while reducing its holdings of Galaxy Digital shares.

CoinFeed reported on May 13th, citing Bits.media, that Wells Fargo disclosed its holdings in crypto ETFs to the U.S. Securities and Exchange Commission (SEC). In the first quarter, the bank increased its holdings of Ethereum ETFs, increasing its share in BlackRock's iShares Ethereum Trust ETF (ETHA) by 63.5%, from 672,600 units to 1.1 million units; and its share in the Bitwise Ethereum ETF (ETHW) by 37%, from 186,800 units to 257,000 units. Despite a net outflow of approximately $769 million from Ethereum spot ETFs and a 29% drop in the price of ETH in the first quarter, Wells Fargo still holds approximately $21.5 million worth of Ethereum ETFs, of which $17.6 million are BlackRock products.