In a significant disclosure, Bank of America (BofA) has revealed a notable investment in cryptocurrencies through exchange-traded funds (ETFs), with a total position worth approximately $53 million. This recent filing, made with the U.S. Securities and Exchange Commission (SEC), outlines the bank’s ventures in Bitcoin, Ethereum, XRP, and Solana.
Leading the bank’s cryptocurrency holdings is a substantial investment in the BlackRock Bitcoin ETF (IBIT), amounting to $37 million. BofA has increased its stake in this fund, now owning 972,590 shares, up from 719,008 shares in the previous quarter. The bank’s diversified crypto investments also include $7.98 million in Bitwise’s BITB, $3.32 million in the Grayscale Bitcoin Mini ETF, and $1.71 million in FBTC. Additionally, BofA maintains stakes in GBTC, VanEck’s HODL, and Ark 21Shares Bitcoin ETF (ARKB).
In contrast to its growing Bitcoin position, BofA has recently reduced its exposure to Ethereum. In alignment with trends seen at other financial institutions such as Goldman Sachs— which significantly cut its Ethereum ETF holdings—BofA holds 67,492 shares of the BlackRock Ethereum ETF (ETHA) valued at around $1.06 million. Meanwhile, its XRP ETF investments have remained stable, with the bank holding 13,000 shares of the Volatility Shares XRP ETF.
On the Solana front, Bank of America has made adjustments as well. It sold 700 shares of the Volatility Shares 2x Solana ETF, but still retains 10,296 shares in its portfolio. Despite these cuts, the overall cryptocurrency exposure remains modest when compared to BofA’s total investment portfolio, which stands at a significant $1.37 trillion. Nonetheless, the bank’s engagement in crypto assets reflects a broader trend of institutional interest, continuing even amidst market fluctuations and macroeconomic uncertainties.
In addition to its ETF holdings, Bank of America also disclosed major investments in several companies related to the cryptocurrency sector. The bank holds 3.96 million shares of MicroStrategy (MSTR), valued at nearly $660 million. BofA’s portfolio further includes $19 million in Strike (STRK) perpetual preferred shares and convertible senior notes, alongside substantial holdings in American Bitcoin Corp (ABTC), Bitmine Immersion (BMNR), and Hyperliquid Strategies Inc (PURR).
Furthermore, the bank’s investment strategies extend to other notable firms in the crypto space, including Circle, Coinbase, and various Bitcoin mining companies like Marathon Digital Holdings, Riot Platforms, and CleanSpark. Despite fluctuations in market performance, the bank’s diversified approach underscores its commitment and growing portfolio in cryptocurrency investments.
