PiCK
Bank of America Raises Q1 Crypto ETF Holdings to $53 Million, With BlackRock’s IBIT as Top Position
Summary
- Bank of America increased its first-quarter holdings of spot-Bitcoin ETFs, bringing its total holdings of crypto ETFs and related thematic stocks to about $53 million.
- Its largest position was BlackRock’s IBIT, valued at about $37 million, and it also allocated funds to BITB, the Grayscale Bitcoin Mini Trust, FBTC, GBTC, HODL and ARKB.
- Bank of America reduced its weighting in altcoin-related ETFs such as Ether and Solana, kept its holdings in Volatility Shares’ XRP ETF unchanged, and held about 3.96 million shares of MicroStrategy, valued at roughly $660 million.
Forecast Trend Report by Period
Bank of America increased its holdings of spot-Bitcoin exchange-traded funds in the first quarter while reducing exposure to ETFs tied to altcoins such as Ether and Solana.
Bank of America’s first-quarter 13F filing, released May 22, showed total holdings of crypto ETFs and related thematic stocks of about $53 million.
BlackRock’s IBIT was the bank’s largest crypto ETF position. Bank of America raised its stake to 972,590 shares from 719,008 shares in the previous quarter. The holding was valued at about $37 million.
The bank also held $7.98 million of Bitwise’s BITB, $3.32 million of the Grayscale Bitcoin Mini Trust and $1.71 million of Fidelity’s FBTC. It also allocated funds to Grayscale’s GBTC, VanEck’s HODL and ARK 21Shares’ ARKB.
The bank, however, cut exposure to altcoin-linked products. Among spot-Ether ETFs, it retained only 67,492 shares of BlackRock’s ETHA, valued at about $1.06 million, and it also reduced its Solana ETF holdings. Its position in Volatility Shares’ XRP ETF was unchanged from the previous quarter at 13,000 shares.
The filing also disclosed holdings in crypto-related companies. Bank of America owned about 3.96 million shares of MicroStrategy, valued at about $660 million.
Doohyun Hwang
cow5361@bloomingbit.ioKEEP CALM AND HODL🍀
