Bank of America has strengthened its exposure to Bitcoin-linked investment products, according to its latest first-quarter 13F filing with the Securities and Exchange Commission.

The filing shows that the second-largest bank in the United States has moved more of its crypto-related portfolio towards Bitcoin exchange-traded funds.

Bank of America reported around $53million in total cryptocurrency ETF exposure during the period.

The bank’s largest crypto-linked position sits in BlackRock’s iShares Bitcoin Trust, which has become the clear centre of its digital asset holdings.

Bank of America increased its position in BlackRock’s Bitcoin fund to around $37million during the first quarter.

That allocation means BlackRock’s iShares…