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

Intesa Sanpaolo, Italy's largest banking group, has made significant changes to its crypto ETF positions. According to its July 31 Form 13F filing, the bank reduced its underlying-share amount in its reported iShares Bitcoin Trust ETF call position by a staggering 99.3% in the second quarter.

This massive reduction is part of a broader reset in Intesa's disclosed quarter-end crypto ETF positions. The bank's holdings tables show that its common IBIT position fell from 646,809 shares to 40,723, a 93.7% decrease, while the underlying-share amount in its held-call row dropped from 2,496,500 to 18,000.

Meanwhile, Intesa has tripled its staked Ethereum ETF balance, with its iShares Staked Ethereum Trust ETF position rising from 116,200 shares to 349,600. Its Bitwise Solana Staking ETF position fell significantly, however, dropping from 2,817 shares to just seven.