Institutional interest in Ethereum is rising again. American Top financial services company Wells Fargo has sharply increased its exposure to Ethereum-linked ETFs during the first quarter of 2026.
This comes even while ETH trades near $2,300 and market sentiment stays weak, showing institutions are still quietly accumulating.
According to the filing, Wells Fargo raised its position in BlackRock’s iShares Ethereum Trust (ETHA) by about 63.5%, increasing its holdings from roughly 672,600 shares in Q4 2025 to nearly 1.1 million shares in Q1 2026.
At the same time, its exposure to the Bitwise Ethereum ETF (ETHW) also grew by around 37%, climbing from about 186,800 shares to over 257,000 shares.
The broad-based increase across multiple Ethereum-linked funds suggests that the bank is not just diversifying, but actively building larger exposure to ETH through regulated investment products.
Wells Fargo is not alone. JPMorgan recently filed for a new tokenized money market fund called JLTXX that will run directly on the Ethereum blockchain. The fund is designed to help stablecoin issuers hold reserves in a regulated and interest-generating product while using Ethereum for instant transfers and 24/7 liquidity.
BlackRock is also expanding its Ethereum strategy. Earlier, the asset management giant filed plans to launch tokenized share classes for its $7 billion Treasury liquidity fund.
The ownership records for these shares will live directly on Ethereum using ERC-20 tokens, while BNY Mellon will maintain the on-chain share registry.
Earlier, Bitmine Chairman Tom Lee predicted Ethereum could eventually reach $62,000, saying tokenization could become one of the biggest drivers behind its future growth.
The move comes at a time when Ethereum is still trading near the $2,300 level and overall spot demand remains weak.
According to crypto trader TED Pillow, Ethereum is currently facing a critical technical zone. He notes that ETF-related selling pressure and weak spot demand have kept prices under pressure, and a breakdown below the $2,250 level could trigger further downside.
However, he also points out that a move above $2,400 could quickly shift momentum, especially as accumulation continues beneath current levels.
Looking ahead, market participants are also watching regulatory developments closely. Any progress around crypto legislation such as the proposed Clarity Act could improve market clarity and potentially act as a catalyst for renewed upside in altcoins like Ethereum.
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