Wells Fargo Rebalances Crypto Holdings, Boosts MicroStrategy and Ethereum Stakes

Overview

• A quarterly SEC filing shows Wells Fargo raised its MicroStrategy stake by about 125% to roughly 726,000 shares, increasing its bitcoin exposure through an equity proxy, and lifted its BlackRock Ethereum Trust holding by about 65% to more than 1.10 million shares.
• The bank trimmed its position in BlackRock’s iShares Bitcoin Trust by 75,102 shares while shifting capital into other Bitcoin vehicles, including additions to Grayscale’s Bitcoin Mini Trust, Grayscale Bitcoin Trust and a 24% rise in its Bitwise Bitcoin ETF holding.
• For the first time the filing records Solana exposure, with purchases of Grayscale Solana Trust and Fidelity’s Solana fund, and it shows a large increase in Bitmine Immersion shares and new positions in American Bitcoin Corp. and Strive’s treasury vehicle.
• Wells Fargo made selective equity bets inside the crypto industry by raising its Robinhood holding about 65% to roughly 2.56 million shares and opening put options, while slashing Galaxy Digital holdings by about 97% and reducing Coinbase by about 25%.
• The filing also shows options activity, including new IBIT call positions and more puts, which the bank links to short‑term market volatility tied to U.S.-Iran tensions, and the disclosures reflect quarter‑end holdings that may lag current trading.