Bank of America hikes stake in sinking crypto stock by 1,668%

It's nary longer quality that Wall Street is embracing cryptocurrencies. Several large fiscal institutions person started offering crypto concern products.

Among them is Bank of America, oregon BofA (NYSE: BAC), which is besides advising its wealthiness absorption clients to see a 1%-4% allocation of their portfolio to integer assets.

Recently, the slope besides accrued its involvement successful a sinking crypto stock.

Related: Peter Thiel sells disconnected afloat involvement successful crypto company

BofA's 13F filing with the Securities and Exchange Commission (SEC) shows that it owns 3,162,085 shares of Bitmine Immersion Technologies (NYSE: BMNR), worth $85.8 million, in the 4th fourth of 2025.

The caller acquisition is a 1,668% hike successful its involvement successful the Ethereum treasury company. The slope earlier owned 178,808 BMNR shares.

Bitmine Immersion is simply a crypto institution that turned from Bitcoin (BTC) mining operations to gathering an Ethereum (ETH) treasury institution past year, coinciding with the appointment of Wall Street's legendary figure, Fundstrat's Tom Lee, arsenic the chairman.

Bitmine is pursuing the crypto treasury exemplary pioneered by Michael Saylor's Strategy (Nasdaq: MSTR) that built the world's largest firm BTC treasury.

Strategy aims to get 5% of the full BTC proviso and Bitmine 5% of the full ETH supply.

Launched successful 2015, Ethereum has go a fashionable blockchain prime for developers gathering decentralized applications (dApps). With a marketplace headdress of $239 billion, ETH is the world's second-largest cryptocurrency aft BTC.

As of Feb. 16, Bitmine Immersion holds 4,371,497 ETH, which is 3.62% of the ETH supply. It is the world's largest firm ETH treasury.

The institution said it aims to accumulate 5% of the full ETH proviso wrong 7 months.

However, the marketplace is going done a crypto wintertime successful which ETH has mislaid 35% of its worth implicit the past 3 months. The BMNR banal has besides mislaid 37% of its worth implicit the aforesaid period.

Bank of America isn't the lone slope to summation its involvement successful Bitmine Immersion Technologies.