Wells Fargo, one of the largest U.S. banks, significantly reshuffled its crypto-related positions in the second quarter of 2026, according to its latest 13F filing. The bank massively increased holdings in Strategy (formerly MicroStrategy) while reducing exposure to certain Bitcoin ETFs, redirecting capital toward Ethereum and Solana products.
Strategy Stake Surges 125%, Bitcoin ETFs Face Mixed Treatment
Industry filings show Wells Fargo raised its Strategy position from roughly 323,000 shares last quarter to nearly 726,000 shares, a 125% jump. The cost of this expansion was about $41.5 million. Strategy, led by Michael Saylor, remains closely tied to Bitcoin price movements due to its massive BTC treasury.
At the same time, the bank took a more cautious stance on several Bitcoin ETFs. It reduced its stake in BlackRock's iShares Bitcoin Trust (IBIT) by 75,102 shares but simultaneously opened a new call option position on IBIT and increased put option exposure. Wells Fargo also trimmed holdings in the Invesco Galaxy Bitcoin ETF, ARK 21Shares Bitcoin ETF, and Fidelity Wise Origin Bitcoin Fund. However, it did not exit Bitcoin exposure entirely — it boosted positions in Grayscale Bitcoin Mini Trust, Grayscale Bitcoin Trust, and Bitwise Bitcoin ETF (the latter up 24% quarter-over-quarter).
Ether Exposure Up 65%, Solana Makes Debut
Wells Fargo also expanded its Ethereum-linked holdings. The bank increased its stake in BlackRock's iShares Ethereum Trust (ETHA) by nearly 65%, now holding over 1.10 million shares valued at approximately $17.56 million. It also reported holdings of 257,157 Bitwise Ethereum ETF shares, 4,637 Grayscale Ethereum Staking ETF shares, and 623 VanEck Ethereum ETF shares.
In a first, the bank added Solana exposure: it purchased 13,280 shares of Grayscale Solana Trust and 1,638 shares of Fidelity Solana Fund. The moves signal a diversified crypto portfolio reaching beyond Bitcoin to include both Ethereum and Solana assets.
Broader Crypto Equities: Mining, Robinhood, and New Names
Beyond ETF products, Wells Fargo dramatically increased its holding in mining firm Bitmine Immersion from 2,323 to 21,547 shares (+828%), valued at about $426,000. The filing also lists new positions in American Bitcoin Corp. (previously backed by the Trump family) and Strive Asset Management. Furthermore, the bank raised its Robinhood stake by 65% to roughly 2.56 million shares and opened a new put option on Robinhood worth approximately $116,000.
The 13F data covers positions as of June 30, 2026. Wells Fargo's portfolio adjustments come amid rising U.S.-Iran tensions that have prompted a general risk-off approach. The bank's contrasting moves — trimming some Bitcoin ETFs while boosting Strategy, Ethereum, and Solana exposures — illustrate a nuanced, product-by-product allocation strategy in the crypto space.