Intesa Sanpaolo Cuts Bitcoin Call Position by 99.3%, Boosts Staked Ethereum

Italy's largest bank, Intesa Sanpaolo, has significantly adjusted its cryptocurrency ETF positions in the second quarter. According to recent filings, the bank reduced its Bitcoin ETF call position by a staggering 99.3% and introduced a held put row representing 500,000 underlying shares.

The changes also included a nearly threefold increase in the staked Ethereum Trust ETF balance, from 116,200 shares to 349,600. Intesa's Solana ETF balance, on the other hand, decreased dramatically, dropping from 2,817 shares to seven.

Notably, XRP shares remained unchanged at 712,319, indicating no net increase in the disclosed balance. However, the complete net Bitcoin-options position and motive of Intesa Sanpaolo remain undisclosed due to the incomplete nature of option reporting under Form 13F instructions.