Bank of America held approximately $53 million in crypto ETFs in the first quarter, increasing its BTC holdings while reducing its ETH holdings.

CoinFeed reported on May 23 that, according to Bank of America's (BofA) latest Q1 13F filing, its total holdings of cryptocurrency ETFs and related stocks in the first quarter approached $53 million. BlackRock (IBIT) was its largest single cryptocurrency ETF holding, valued at approximately $37 million, with 972,590 shares, a significant continued inflow from the 719,008 shares held in the previous quarter. Bitwise (BITB) holdings were valued at approximately $7.98 million; Grayscale Mini Fund holdings were valued at approximately $3.32 million; and Fidelity (FBTC) holdings were valued at approximately $1.71 million. Small allocations were also made to Grayscale GBTC, VanEck HODL, and Ark 21Shares (ARKB).