What to know:
- In the last three months, Bank of America purchased more than $37 million worth of the iShares Bitcoin Trust ETF (IBIT).
- Bank of America’s investment in Bitcoin ETFs grew by about $10 million, with its holdings increasing to 972,590 shares.
- The financial institution diversified its Bitcoin ETF holdings, allocating around $8 million in the Bitwise Bitcoin ETF, $3.3 million in the Grayscale Bitcoin Mini Trust, and $1.7 million in the Fidelity FBTC.
Bank of America increased exposure to BlackRock’s iShares Bitcoin Trust ETF (IBIT) during the first quarter, according to its latest 13F filing. The company holds $53 million worth of crypto ETFs. The growing institutional involvement in investing in products associated with the crypto world amid the current market conditions is evident.
Furthermore, Bank of America increased its holding in the iShares Bitcoin Trust ETF to $37 million in the current quarter. At present, the firm holds 972,590 shares in IBIT compared to 719,008 shares held earlier. In addition, the firm maintains its diversified investment in Bitcoin ETFs in the crypto markets globally.
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Bitcoin ETF Allocation Signals Institutional Shift
As of March 31, 2026, Bank of America disclosed its latest investment activities in cryptocurrencies by filing the Form 13F. The company’s latest 13F filing was published in May, providing insights into institutional investors’ crypto ETF positioning. As such, the filing can be used as evidence of growing interest in regulated Bitcoin investment products.
Currently, Bank of America holds BlackRock IBIT worth $37 million, Bitwise Bitcoin ETF worth $8 million, Grayscale Bitcoin Mini Trust at $3.3 million, and Fidelity FBTC worth $1.7 million. In addition, other small portions of investments in GBTC, VanEck HODL, and ARK 21Shares have been made by the financial firm.
Ethereum and Altcoin Exposure Reduced in Portfolio
As noted, according to analysts, Bitcoin is currently more attractive to institutional investors compared to other altcoins. While Bitcoin is viewed as “digital gold,” other digital assets tend to experience much higher price fluctuations, making them less preferable for many companies’ portfolios.
Some analysts suggest that Bank of America’s strategy might be associated with the fact that it wants to protect itself against further market declines. With the economy moving towards a recession, the volatility might only grow. Thus, the decision by Bank of America to allocate funds to Bitcoin ETFs might be based on the assumption that it will allow avoiding risks and losing money.
Bank of America’s strategy aligns with broader Wall Street trends, as wealth advisors expand access to Bitcoin ETFs for clients. Also, Morgan Stanley offers similar products, while other institutions choose to reduce their Ethereum positions.
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