- Bank of America boosts Bitcoin exposure while reducing Ethereum and Solana investment positions
- BlackRock IBIT dominates portfolio as MicroStrategy holdings strengthen indirect Bitcoin exposure
- Morgan Stanley, Goldman Sachs, JPMorgan expand crypto ETF investments despite market volatility
Bank of America increased its Bitcoin exposure during the first quarter while reducing investments connected to Ethereum and Solana products. According to the bank’s latest Q1 13F filing with the SEC, Bitcoin-related holdings now dominate the institution’s cryptocurrency portfolio.
BlackRock’s iShares Bitcoin Trust emerged as the bank’s largest crypto position during the quarter. Bank of America expanded its IBIT holdings to nearly $37 million. Consequently, BlackRock’s Bitcoin ETF now accounts for almost 70% of the company’s crypto-related investments.
At the same time, the filing reflected weaker exposure toward Ethereum and Solana-linked products. That portfolio adjustment signaled changing institutional priorities as traditional financial firms increasingly favored Bitcoin-focused investment vehicles.
Besides IBIT, Bank of America maintained allocations across several additional Bitcoin investment products. Those positions included Fidelity’s FBTC, Bitwise’s BITB, and multiple Grayscale-linked funds. However, Bitcoin clearly received the strongest institutional support within the bank’s latest filing.
Moreover, the portfolio changes arrived while institutional investors continued expanding regulated crypto exposure through exchange-traded products instead of direct token ownership.
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Major Banks Continue Expanding Bitcoin Investments
Bank of America also disclosed ownership of nearly 3.96 million shares of MicroStrategy. The position currently carries an estimated value close to $660 million. Therefore, the bank strengthened additional indirect exposure to Bitcoin through the software company’s treasury strategy. Morgan Stanley also maintained one of the largest crypto ETF portfolios among traditional financial institutions. According to its latest SEC filing, the company currently holds roughly $1.24 billion in spot crypto ETF exposure.
Meanwhile, JPMorgan expanded its digital asset activity despite CEO Jamie Dimon’s criticism toward Bitcoin. SEC filings showed the bank increased crypto exposure while Bitcoin prices declined throughout the first quarter. Additionally, Goldman Sachs retained substantial Bitcoin ETF positions during the same period. The firm maintained nearly $690 million invested in BlackRock’s IBIT alongside another $25 million allocated to Fidelity’s FBTC fund.
The latest SEC filings highlighted a broader institutional trend developing across Wall Street. Traditional banks increasingly concentrated crypto investments around Bitcoin while reducing broader smart-contract platform exposure.
Bank of America’s latest portfolio changes reinforced Bitcoin’s growing importance among institutional investors. Meanwhile, declining Ethereum and Solana exposure reflected changing strategies across major traditional financial firms entering the cryptocurrency market.
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