Bank of America Reported Nearly $53M in Crypto ETF Positions in Q1, Boosted BlackRock's IBIT and Cut Ethereum Exposure

Bank of America's latest Q1 13F filing shows the bank held nearly $53 million in cryptocurrency ETFs and related equities during the quarter, according to Odaily Planet Daily. BlackRock's iShares Bitcoin Trust (IBIT) was its largest single crypto ETF position, worth about $37 million. The bank reported 972,590 IBIT shares, up from 719,008 in the prior quarter. Other reported holdings included Bitwise at roughly $7.98 million, Grayscale's Mini Fund at about $3.32 million, and Fidelity at around $1.71 million. The filing also listed smaller positions in Grayscale's GBTC, VanEck's HODL, Ark 21Shares and other products. The bank sharply reduced its Ethereum ETF exposure, leaving 67,492 shares of BlackRock's Ethereum ETF valued at approximately $1.06 million, and also trimmed its Solana ETF position. Its XRP ETF stake was unchanged, with 13,000 shares of the Volatility Shares XRP ETF. Separately, Bank of America disclosed a holding of about 3.96 million shares of MicroStrategy, valued at roughly $6.6 billion.