Wells Fargo has significantly increased its holdings in Ethereum ETFs, according to its Q1 2026 13F filing with the SEC. The bank's stake in BlackRock's iShares Ethereum Trust (ETHA) rose by 63.5% to approximately 1.1 million shares, while its holdings in the Bitwise Ethereum ETF (ETHW) grew by 37% to 257,000 shares. Despite a 29% drop in Ethereum prices during the quarter and overall outflows from spot Ethereum ETFs, Wells Fargo's total Ethereum ETF holdings are valued at approximately $21.5 million. In addition to its ETF adjustments, Wells Fargo made significant changes to its stock positions. The bank reduced its stake in Galaxy Digital, led by Michael Novogratz, by nearly 97%, equating to about $54.7 million. Conversely, it increased its holdings in Michael Saylor's MicroStrategy (MSTR) by 125% to approximately 726,000 shares.