diff --git a/llvm/lib/IR/ConstantFold.cpp b/llvm/lib/IR/ConstantFold.cpp
--- a/llvm/lib/IR/ConstantFold.cpp
+++ b/llvm/lib/IR/ConstantFold.cpp
@@ -568,6 +568,29 @@
       if (isAllNull)
         // This is casting one pointer type to another, always BitCast
         return ConstantExpr::getPointerCast(CE->getOperand(0), DestTy);
+    } else if (CE->getType()->isVectorTy() && DestTy->isVectorTy() &&
+               CE->getType()->getVectorElementCount() ==
+                   DestTy->getVectorElementCount() &&
+               CE->getOpcode() == Instruction::ShuffleVector &&
+               opc == Instruction::BitCast) {
+      // For splat vector, fold bitcast to splat value.
+      // BitCast(ShuffleVector(InsertElement(C1, SplatV, Zero), C2, Zero)) to NewType
+      // into
+      // ShuffleVector(InsertElement(C1, BitCast(SplatV) to NewType, Zero), C2, Zero)
+      Constant *SplatV, *C1, *C2, *ZeroIdx, *ZeroMask;
+      if (match(CE, m_ShuffleVector(
+                        m_InsertElement(
+                            m_Constant(C1), m_Constant(SplatV),
+                            m_CombineAnd(m_Zero(), m_Constant(ZeroIdx))),
+                        m_Constant(C2),
+                        m_CombineAnd(m_Zero(), m_Constant(ZeroMask))))) {
+        auto *CastedSplatV =
+            ConstantExpr::getCast(opc, SplatV, DestTy->getScalarType());
+        return ConstantExpr::getShuffleVector(
+            ConstantExpr::getInsertElement(
+                ConstantExpr::getCast(opc, C1, DestTy), CastedSplatV, ZeroIdx),
+            ConstantExpr::getCast(opc, C2, DestTy), ZeroMask);
+      }
     }
   }
 
diff --git a/llvm/test/Analysis/ConstantFolding/bitcast.ll b/llvm/test/Analysis/ConstantFolding/bitcast.ll
--- a/llvm/test/Analysis/ConstantFolding/bitcast.ll
+++ b/llvm/test/Analysis/ConstantFolding/bitcast.ll
@@ -3,7 +3,7 @@
 
 define <vscale x 4 x float> @bitcast_scalable_constant() {
 ; CHECK-LABEL: @bitcast_scalable_constant(
-; CHECK-NEXT:    ret <vscale x 4 x float> bitcast (<vscale x 4 x i32> shufflevector (<vscale x 4 x i32> insertelement (<vscale x 4 x i32> undef, i32 1, i32 0), <vscale x 4 x i32> undef, <vscale x 4 x i32> zeroinitializer) to <vscale x 4 x float>)
+; CHECK-NEXT:    ret <vscale x 4 x float> shufflevector (<vscale x 4 x float> insertelement (<vscale x 4 x float> undef, float 0x36A0000000000000, i32 0), <vscale x 4 x float> undef, <vscale x 4 x i32> zeroinitializer)
 ;
   %i1 = insertelement <vscale x 4 x i32> undef, i32 1, i32 0
   %i2 = shufflevector <vscale x 4 x i32> %i1, <vscale x 4 x i32> undef, <vscale x 4 x i32> zeroinitializer