Here’s what American Mega Bank is buying after dumping Ethereum Holdings.
Ethereum is losing ground in one of the largest U.S. bank portfolios as Bank of America pivots sharply. Towards Bitcoin-linked investment products. The giant bank’s new SEC filing shows a notable overhaul of its cryptocurrency exposure during the first quarter. Ethereum and Solana positions were reduced and Bitcoin allocations were aggressively expanded. Via Spot ETF Indirect financial exposure.
Ethereum retreats, Bitcoin expands
recent 13F filing Bank of America’s report paints a clear picture of where institutional beliefs are moving. The bank still maintains exposure across several crypto-related products, however, a recent report indicate Bitcoin now dominates digital asset strategies by a large margin.
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At the center of the movement BlackRock’s iShares Bitcoin Trust (IBIT)This became the bank’s largest cryptocurrency holding after seeing a significant increase during the quarter. According to regulatory filings, Bank of America increased its IBIT exposure to approximately $37 million, making the ETF account for nearly 70% of the bank’s cryptocurrency investment portfolio and hold 972,590 shares of the fund.
At the same time, exposure related to Ethereum products moved in the opposite direction. The documentation reflects: Ethereum connection quota reduction Along with cuts to Solana-related investment products. Smaller holdings involving the XRP and Solana ETFs also appeared in the disclosure, but the bank’s allocation to those products was relatively limited.
Instead of spreading capital evenly across digital asset markets, the portfolio shift suggests Bank of America is focusing on Bitcoin as its preferred institutional-grade crypto asset.
The bank also maintained positions in Fidelity’s FBTC, Bitwise’s BITB, and several Grayscale Bitcoin products. But no one has come close to that scale. IBIT AllocationIt reinforces Bitcoin’s growing dominance within institutions’ cryptocurrency strategies.
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Bank of America’s change in position did not occur in isolation. across Wall Street, major financial companies Bitcoin exposure is quietly increasing even as volatility in the broader cryptocurrency market remains.
The filing also showed that Bank of America owns about 3.96 million shares of MicroStrategy stock, worth about $660 million. Because it is a software company Continuing to accumulate Bitcoin As a major treasury reserve asset, this investment provides banks with another layer of indirect Bitcoin exposure beyond ETFs.
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Other financial giants are moving in a similar direction. Morgan Stanley reportedly holds one of the largest physical cryptocurrency ETF portfolios of any traditional bank, with more than $1 billion tied up in regulated digital asset products. Goldman Sachs has also maintained a significant position in BlackRock’s IBIT, along with Fidelity’s FBTC fund. JPMorgan Expansion Despite CEO Jamie Dimon’s well-publicized skepticism toward Bitcoin, the company gained cryptocurrency-related exposure during the quarter.
These portfolio moves point to a broader shift taking place across traditional finance, with more regulated Bitcoin investment vehicles becoming available. Interest from banks, asset managers and hedge funds. Bank of America’s latest filing ultimately fits exactly this pattern, showing that Bitcoin is increasingly Central to Wall Street’s cryptocurrency playbook.
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