Wall Street Giants Double Down on Bitcoin via ETFs and Equities
BY
Ben Graham
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Wall Street’s interest in Bitcoin is becoming harder to ignore. Major financial institutions are doing more than just testing the waters; they’re wading in with conviction now. Recent filings reveal that firms like Wells Fargo, Cantor Fitzgerald, and Jane Street are significantly increasing their exposure to Bitcoin through both ETFs and equity positions.
Wells Fargo Builds a Strong Position Across Multiple Fronts
Wells Fargo has quietly turned itself into one of the largest traditional holders of Bitcoin exposure. The bank increased its position in BlackRock’s iShares Bitcoin Trust from just over 26 million dollars at the end of the first quarter to more than 160 million by the end of Q2.
That move alone would be noteworthy, but the bank also added another 143 million dollars’ worth of MicroStrategy stock, the company now rebranded as Strategy, which has long been viewed as a corporate stand-in for Bitcoin itself. This two-pronged approach shows Wells Fargo is hedging its bets and taking Bitcoin’s institutional role seriously.
Cantor Fitzgerald and Jane Street Step Up in a Big Way
Wells Fargo isn’t the only one getting aggressive. Cantor Fitzgerald boosted its total Bitcoin ETF exposure to over 250 million dollars, with the bulk going into Fidelity’s spot ETF product. Although it trimmed its holdings in BlackRock’s fund slightly, the overall move shows growing confidence. Jane Street, meanwhile, made an even bigger splash. The firm now holds roughly 1.46 billion dollars in IBIT shares, a position that surpasses its Tesla holdings. That is a major statement from a trading powerhouse that typically keeps things close to the vest.
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Bitcoin ETF Demand Breaks Records
These moves are playing out during a broader surge in demand for Bitcoin ETFs. On one single day, more than 1.2 billion dollars flowed into spot Bitcoin ETFs, with IBIT alone pulling in nearly 450 million. Since mid-April, total inflows into these products have crossed 15 billion, and BlackRock’s fund has grown into a juggernaut with nearly 80 billion dollars in assets under management. That level of inflow is unusual even for traditional markets and puts Bitcoin in rare company.
BlackRock Keeps Expanding Its Crypto Footprint
BlackRock’s involvement continues to be one of the biggest indicators that Bitcoin has entered the institutional mainstream. The firm now holds more than 100 billion dollars in crypto-related assets, most of which are allocated to Bitcoin. That figure puts it well ahead of the rest of the pack and confirms that this is no longer a side bet for the world’s largest asset manager.
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Harvard and Other Institutions Add More Weight
It’s not just hedge funds and big banks that are increasing exposure. Harvard’s endowment now has over 117 million dollars invested in IBIT, giving it a larger stake in Bitcoin than in gold. That kind of allocation from a prestigious academic institution adds even more legitimacy to what’s unfolding.
Bitcoin Is Becoming a Core Asset
These numbers tell a clear story. Bitcoin is no longer a niche asset for tech-savvy investors or crypto startups. It’s being treated as a core allocation in diversified portfolios, right alongside stocks, bonds, and gold. Whether it’s through direct ETF exposure or indirect plays like corporate equities, the smart money is moving in, and they’re moving in fast.
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Key Takeaways
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