According to Form 13F filings submitted to the U.S. Securities and Exchange Commission, the bank cut its spot Bitcoin ETF holdings by 39.4% quarter over quarter as of December 31, 2025. The institution held 21.2 million shares in spot Bitcoin ETFs, with a total value of approximately $1.06 billion at year-end.
A similar reduction was recorded on the Ethereum side. The bank lowered its spot Ethereum ETF holdings by 27.2%, ending the year with roughly 40.7 million shares valued at around $1 billion.
Meanwhile, the institution entered newly launched spot XRP and Solana ETFs. By year-end, it held approximately $153 million in XRP ETF exposure and $108 million in Solana ETF exposure, reportedly gained entirely through spot ETFs rather than direct token purchases. The move signals a portfolio reallocation rather than a full withdrawal of institutional interest in crypto assets.
