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Bank of America has reallocated its digital asset portfolio by increasing its stake in Bitcoin.
Bank of America increased its IBIT (BlackRock’s Bitcoin Trust) position to $37 million in Q1 2024.
KEY POINTS
- BofA tripled its ETF exposure to Ethereum and Solana despite cutting other smart-contract investments.
- Total BofA crypto ETF holdings now stand at about $53 million, with IBIT forming 70% of this.
- Morgan Stanley now holds $1.24 billion in spot crypto ETF exposure, outpacing peers.
- JPMorgan expanded its bitcoin trading activity during Q1, despite public CEO criticism.
COMPANIES
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