Bank of America (BofA), one of Wall Street’s oldest and most cautious giants, dropped its latest 13F filing with the SEC on May 19—and the numbers show the bank’s indirect bet on crypto has quietly swelled past $2.2 billion as of March 31.
The holdings, which include spot crypto ETFs and equities in companies with significant cryptocurrency operations, were submitted on May 15 and became widely available on May 19. The amount represents a small fraction of the bank’s overall $1.37 trillion 13F portfolio but marks continued indirect involvement in digital assets.
The 13F covers investment positions managed by Bank of America’s wealth advisory and institutional arms. It does not reflect direct cryptocurrency holdings on the bank’s balance sheet, which remain restricted under U.S. banking regulations.
ETF Holdings Reach $53 Million
Bank of America held approximately $53 million across various spot crypto ETFs as of the end of the first quarter. The largest position was in BlackRock’s iShares Bitcoin Trust, valued at about $37 million, or 972,590 shares. That stake increased from the prior quarter.
Other Bitcoin ETF holdings included Bitwise Bitcoin ETF, Grayscale Bitcoin Mini Trust, and Fidelity Wise Origin Bitcoin Fund. Smaller positions were also reported in Grayscale Bitcoin Trust, VanEck Bitcoin ETF, and ARK 21Shares Bitcoin ETF.
On the altcoin side, the bank held about $1.06 million in BlackRock’s iShares Ethereum Trust, a reduction from the previous quarter. It maintained an approximately $98,500 position in the Volatility Shares XRP ETF and reported a small position in a Solana ETF that saw a modest decrease.
These ETF holdings, while modest relative to the bank’s size, indicate that Bank of America is expanding its exposure beyond Bitcoin through regulated investment vehicles that its advisors can recommend to clients.
In January 2026, the bank began allowing thousands of its wealth advisors to suggest Bitcoin ETF allocations of 1% to 4% for suitable clients, signaling a gradual normalization of crypto products within its advisory offerings.
Equity Stakes Form Bulk of Exposure
The bulk of the crypto-related total comes from equity stakes in companies with substantial cryptocurrency businesses. Michael Saylor’s Strategy (formerly MicroStrategy) accounted for the largest single position, valued at approximately $514 million to $660 million. The business intelligence firm is known for its aggressive Bitcoin accumulation strategy.
Other notable holdings included Robinhood at roughly $472 million, Block Inc. (XYZ) at approximately $371 million, Coinbase (COIN) at about $261 million, Circle (CRCL) near $170 million, and SoFi (SOFI) at roughly $172 million.
Additional positions were held in cryptocurrency miners and infrastructure companies, including IREN, MARA, Hut 8, Bitdeer, Cleanspark, Bitmine Immersion, and American Bitcoin.
When combined with the ETF positions, analysts tracking the filing estimate the highlighted crypto-related holdings exceed $2.2 billion.
Context and Comparison With Peers
The filing shows Bank of America maintaining a more diversified approach across Bitcoin and certain altcoin products compared with some peers. Goldman Sachs, for example, reduced certain altcoin ETF holdings in the same period while retaining larger Bitcoin exposure.
Bank of America’s overall 13F portfolio stood at approximately $1.37 trillion, translating to crypto-related positions accounting for less than 0.2% of reported assets.
The bank has taken steps to expand client access to crypto products. In late 2025, it began allowing certain wealth advisors to recommend Bitcoin ETF allocations starting in January 2026.
The latest 13F filings provide a quarterly snapshot of long positions and do not capture intra-quarter trading, hedging activity, or short positions. Values are calculated using market prices at the end of the reporting period and can fluctuate with stock and ETF movements.
The disclosure adds to ongoing observations of institutional participation in cryptocurrency markets through regulated channels, with other large financial institutions expected to release similar reports in coming quarters.
Also read: Three Wall Street Crypto Strategies: Inside Goldman Sachs, Strategy, and BitMine
