Wells Fargo significantly increased its holdings in a certain platform Bitcoin ETF, while the Abu Dhabi fund continues to lead.

[Coin World] It is reported that Wells Fargo has significantly expanded its exposure to a certain trading platform Bitcoin ETF IBIT, increasing its position by more than four times in the second quarter (Q2) of 2025. At the same time, Abu Dhabi's sovereign wealth fund maintains the largest institutional Bitcoin ETF position globally.

Wells Fargo's $160 million bet marks its aggressive entry into the Bitcoin ETF space. According to a new document from the U.S. Securities and Exchange Commission (SEC), the fourth largest bank in the U.S. by assets disclosed that as of June 30, it held more than $160 million worth of iShares Bitcoin Trust (IBIT) shares. This represents a significant increase compared to just over $26 million at the end of the first quarter.

Wells Fargo and Bank of America (BofA) will start offering spot Bitcoin ETFs to brokerage clients in its wealth management division starting in February 2024. It is worth noting that this comes just a month after the approval of this financial instrument in the United States.

These banks provide approved ETFs to wealth management clients who have brokerage accounts and request to purchase these products. Therefore, Wells Fargo's documents for the second quarter indicate that the bank has moved beyond the stage of opening its doors to meet client demand. It is now directly engaging in institutional allocation on its own books.

Diversifying across multiple Bitcoin funds

At the same time, Wells Fargo's Bitcoin exposure has expanded beyond the flagship product IBIT of a certain trading platform. The bank also increased its stake in the Invesco Galaxy Bitcoin ETF (BTCO) from $2.5 million to about $26 million in the same quarter. Its holding in the Grayscale Bitcoin Mini Trust (BTC) saw a slight increase from about $23,000 to $31,500. Meanwhile, its position in the Grayscale Bitcoin Trust (GBTC) grew from $146,000 to over $192,000. Wells Fargo also reported smaller positions in Bitcoin ETFs managed by ARK Invest/21Shares, Bitwise, CoinShares/Valkyrie, Fidelity, and VanEck.

The bank has also diversified by configuring spot Ethereum ETFs. These moves indicate that the bank's exposure to cryptocurrency-related investments is expanding. It reflects institutional interest in Bitcoin as an asset class and the growing acceptance of ETFs as the preferred entry point.

Abu Dhabi holds a Bitcoin ETF worth 681 million dollars.

Elsewhere, Abu Dhabi's sovereign wealth fund remains firmly committed to holding a large position in Bitcoin ETF. Documents from the U.S. Securities and Exchange Commission (SEC) show that as of June 30, Mubadala, one of the largest state-owned investment companies in the world, held 8.7 million shares of IBIT stock, worth $534 million. Al Warda Investments, managed by the Abu Dhabi Investment Authority, reported holding 2.4 million shares of IBIT stock during the same period, valued at $147 million. These holdings total $681 million and have not changed since May.

The latest disclosures highlight the increasingly broad range of major institutional participants, from American banking giants to Middle Eastern sovereign wealth funds, all taking calculated actions regarding Bitcoin ETFs. Wells Fargo's significant accumulation in the second quarter is noteworthy, indicating its bet on price increases, strategic hedging, or reflecting growing customer demand. Meanwhile, Abu Dhabi's unwavering stance signifies a long-term, conviction-driven approach to Bitcoin, which is increasingly viewed as a strategic asset on the global stage.