US Banking Giant Delivers Blow to Two Prominent Cryptocurrencies with Skeptical Outlook

Bank of America (BofA), the second-largest bank in the US, disclosed a position of approximately $53 million in cryptocurrency ETFs in its 13F filing for the latest quarter.

According to the filing, BofA significantly increased its stake in BlackRock’s spot Bitcoin ETF, IBIT, in the first quarter of 2026. The bank’s IBIT position rose to approximately $37 million, while it appeared to reduce its exposure to Ethereum and Solana ETFs. Bank of America’s position in Bitcoin ETFs was not limited to IBIT alone. The bank also held smaller positions in other Bitcoin ETFs, including BITB, FBTC, and Grayscale.

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The bank reportedly holds 13,000 shares worth $98,540 in the Volatility Shares Trust XRP ETF and 10,296 shares worth $86,064 in the Volatility Shares Solana ETF. However, with the upward momentum in Bitcoin losing ground, there have been significant outflows from $BTC spot ETFs in recent days. Net outflows were recorded from $BTC spot ETFs on every single day of the past week.

*This is not investment advice.