Wells Fargo dramatically expanded its Bitcoin ETF investments, growing its BlackRock iShares Bitcoin Trust position from $26 million to over $160 million in Q2 2025.
US banking and financial services firm Wells Fargo quietly increased its holdings in BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF) by more than six-fold from $26 million to more than $160 million between the first and second quarters of 2025, according to SEC filings revealed in August.
According to the SEC documents, Wells Fargo also added to its Invesco Galaxy Bitcoin ETF (BTCO) holdings during the same period, increasing its position from $3 million to approximately $26 million and made smaller purchases of Grayscale’s Mini Trust and Bitcoin Trust.
The bank’s increased activity in the cryptocurrency and ETF space comes as bullish signals abound for the sector. Bitcoin, the largest cryptocurrency by trading volume and market capitalization, reached new all-time highs throughout 2025 as US government agencies have pivoted to regulatory efforts seen as largely crypto-positive.
Institutional Adoption Grows as BlackRock Nears Satoshi-Level Holdings
Wells Fargo represents one of the largest institutional adopters of the IBIT ETF. It’s currently recognized as the third largest bank in the US by assets under management and boasts more than 70 million global customers.
It’s not the only venerable US institution that’s taken a serious interest in BlackRock’s offerings. Harvard’s recent financial disclosure shows that it held $117 million worth of shares in IBIT as of the end of Q2 2025.
As Coinspeaker recently reported, as of May 31, BlackRock iShares Bitcoin Trust has accumulated a total of 660,842 Bitcoin, with a total of $69.6 billion in assets under management as of the current BTC price.
This position places BlackRock in rare territory with its total BTC holdings approaching those identified as belonging to a wallet purportedly owned by Bitcoin creator “Satoshi Nakamoto,” which holds an estimated 1.1 million BTC. There are currently about 19.6 million Bitcoin in existence out of a hard limit of 21 million, leaving a little over 1 million left to be mined.
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