Wells Fargo Increases Bitcoin ETF Holdings Over Six-Fold in Q2 2025
Wells Fargo significantly increased its investment in BlackRock's iShares Bitcoin Trust ETF from $26 million to over $160 million between Q1 and Q2 2025, as per SEC filings disclosed in August. The bank also raised its holdings in the Invesco Galaxy Bitcoin ETF from $3 million to around $26 million and made smaller purchases of Grayscale's Mini Trust and Bitcoin Trust.
Key points include:
- Wells Fargo is a major institutional investor in the IBIT ETF, ranking as the third largest US bank by assets.
- Harvard University reported holding $117 million in IBIT as of Q2 2025.
- As of May 31, BlackRock's iShares Bitcoin Trust has accumulated 660,842 Bitcoin, with assets under management totaling $69.6 billion.
- BlackRock's BTC holdings are nearing those of Satoshi Nakamoto, estimated at 1.1 million BTC.
- Approximately 19.6 million Bitcoin exist, with just over 1 million left to be mined.