Wells Fargo has significantly increased its holdings in Ethereum spot ETFs during the first quarter of 2026, according to ChainCatcher. The bank's latest 13F filing reveals an increase in its holdings of BlackRock's ETHA and Bitwise's ETHW. The ETHA holdings rose from approximately 672,600 shares in the fourth quarter of 2025 to about 1.1 million shares, marking a 63.5% increase. Meanwhile, ETHW holdings grew from around 186,800 shares to approximately 257,000 shares, a 37% rise. By the end of the quarter, the total value of Wells Fargo's ETH ETF holdings was approximately $21.5 million. In contrast, Wells Fargo's Bitcoin ETF holdings showed mixed results. The IBIT holdings saw a slight decrease, while holdings in BITB and Grayscale Bitcoin Mini Trust ETF increased by about 24% and 41%, respectively. Despite these changes, IBIT remains the bank's largest crypto ETF holding, valued at approximately $250 million. Additionally, Wells Fargo made significant adjustments to its crypto-related stock positions. The bank reduced its holdings in Galaxy Digital by about 97%, while increasing its holdings in Strategy from approximately 322,700 shares to 726,000 shares, a 125% increase.

The cryptocurrency market has temporarily halted its upward trend as the U.S. prepares to release April's Consumer Price Index (CPI) data. According to Odaily, Bitcoin has been fluctuating between $80,000 and $82,000 without a significant breakthrough since last Wednesday. Despite potential for further gains indicated by fund flows, inflation and macroeconomic risks are dampening risk appetite. The U.S. is set to announce the April CPI at 8:30 PM (UTC+8). FactSet data suggests that the CPI is expected to rise to 3.7% year-on-year, up from 3.3% in March. If this prediction holds, it would mark the largest increase since January 2024, significantly above the 12-month average of 2.7%. Core CPI is anticipated to rise to 2.7% from the previous 2.6%. Analysts express concern that if inflation data exceeds expectations, it could heighten market risk aversion, especially with oil prices remaining high and U.S. President Donald Trump describing the U.S.-Iran ceasefire as "extremely fragile." Lukman Otunuga, Head of Market Research at FXTM, noted that the market is entering a sensitive phase where geopolitical, inflationary risks, and central bank expectations are intertwined. High oil prices, uncertainty in Iran, and key U.S. economic data could increase volatility in commodities, exchange rates, and global stock markets. Beyond macroeconomic factors, XRP and SOL are nearing critical supply zones. XRP tested $1.50 today but has repeatedly failed to break through this level since February. SOL is approaching resistance near $97. Meanwhile, institutional interest in related assets is rising. The U.S. spot XRP ETF recorded a net inflow of $25.8 million on Monday, the highest since January 5. Bitcoin and Solana ETFs also maintained net inflows, while the Ethereum ETF saw a net outflow of $16.9 million.

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