Bank of America leaned into Bitcoin in Q1, concentrating the bulk of its modest crypto ETF exposure in BlackRock’s IBIT. Key takeaways - BofA reported roughly $53 million in crypto ETF holdings in its Q1 2026 Form 13F-HR (reporting period March 31; filed May 18). - The largest single ETF holding was BlackRock’s iShares Bitcoin Trust (IBIT): 972,590 shares worth about $37.3 million, up from 719,008 shares in the prior filing. - Other bitcoin ETFs on the books included Bitwise BITB (~$7.98 million), Grayscale’s Bitcoin Mini Trust (~$3.32 million), and Fidelity’s FBTC (~$1.71 million), with smaller positions in GBTC, VanEck HODL, and ARKB. Less exposure to Ether and Solana - Ethereum exposure fell to roughly $1.06 million via BlackRock’s ETHA (67,492 shares). - Solana positions were pared: the bank sold 700 shares of the Volatility Shares 2x Solana ETF and still held 10,296 shares of the standard Solana ETF (~$86,000). - XRP exposure remained steady at 13,000 shares of the Volatility Shares XRP ETF (~$98,500). Crypto-linked equity dwarfs ETF bets - Bank of America’s crypto-related equity holdings were far larger: 3.96 million shares of Strategy (formerly MicroStrategy) valued at about $660 million — more than twelve times its direct crypto ETF exposure. Strategy remains heavily tracked because of its large Bitcoin treasury. Context and industry note - The 13F filing records holdings but doesn’t explain why trades were made. - Other institutions are also using regulated crypto products: recent 13F data showed Wells Fargo held IBIT as its largest crypto ETF position (about $250 million) in Q1. - A Coinbase and EY-Parthenon survey of 351 institutions found 73% plan to increase digital-asset allocations in 2026, and roughly two-thirds prefer regulated products as their primary exposure route. Bottom line: BofA’s Q1 filings show a clear preference for bitcoin-focused ETFs over altcoin products, while its biggest crypto bet remains an equity stake in Strategy (MicroStrategy), underscoring a conservative, Bitcoin-centric stance in its public holdings.
BofA Boosts IBIT Holdings to $37.3M in Q1, MicroStrategy Remains $660M Crypto Bet
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Summary
Bank of America boosted its IBIT holdings to $37.3 million in Q1 2026, with MiCA (EU Markets in Crypto-Assets Regulation) shaping liquidity and crypto markets. The bank’s largest position was in BlackRock’s iShares Bitcoin Trust, followed by BITB, Grayscale’s Bitcoin Mini Trust, and Fidelity’s FBTC. Ethereum and Solana exposure dropped, with ETHA at $1.06 million and Solana ETFs cut. BofA’s top crypto bet remains MicroStrategy’s $660 million stake, which holds a major Bitcoin treasury. The filing shows a Bitcoin-focused strategy, with crypto ETFs far behind equity holdings.
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