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Wells Fargo Raises Spot Ethereum ETF Holdings to About $21.5 Million in Q1 2026

A May 12 SEC filing showed Wells Fargo raised holdings in BlackRock’s ETHA and Bitwise’s ETHW in Q1 2026 while cutting its Galaxy stock position by 97% during a crypto portfolio rebalance.

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Fact Check
The claim is strongly corroborated by multiple independent crypto news outlets all reporting on the same SEC 13F filing event dated May 12, 2026. The Odaily source (fetched directly) provides the most granular detail: ETHA shares up 63.5%, ETHW shares up 37%, total ETH ETF value ~$21.5M, and Galaxy Digital cut by 97% — all matching the claim precisely. The ainvest article independently confirms the $21.5M figure and the Galaxy cut. The SEC EDGAR page for Wells Fargo confirms the entity's filing history. A minor discrepancy exists in the BingX article which cites $15.8M total, but this likely reflects a different subset of ETH ETF holdings counted. The $21.5M figure is the dominant and more detailed figure across the majority of sources. The claim's specific details about ETHA (BlackRock), ETHW (Bitwise), the ~$21.5M total, and the 97% Galaxy cut are all consistently supported.
Summary

Wells Fargo expanded its spot Ethereum ETF exposure to about $21.5 million in the first quarter of 2026, led by larger holdings in BlackRock’s iShares Ethereum Trust and Bitwise Ethereum ETF. Its ETHA position increased from about 672,600 shares to about 1.1 million shares, while ETHW rose from about 186,800 shares to about 257,000 shares. A May 12 SEC filing also showed the bank cut its Galaxy stock holdings by 97% as it rebalanced its crypto-linked portfolio. Earlier reported adjustments to spot Bitcoin ETF positions included a slight reduction in IBIT and increases in BITB and Grayscale Bitcoin Mini Trust ETF.

Terms & Concepts
  • Spot Ethereum ETF: An exchange-traded fund that tracks Ethereum’s market price and gives investors exposure without directly holding the cryptocurrency.
  • Spot Bitcoin ETF: An exchange-traded fund designed to reflect Bitcoin’s current market price rather than using futures contracts.
  • ETF: An exchange-traded fund is a listed investment product that can hold assets or track prices, allowing investors to buy and sell shares on stock exchanges.