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Intesa Sanpaolo Dumps IBIT for Staked Ethereum Amid Crypto Market Weakness

Guavy AI Editorial Team
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Intesa Sanpaolo, Italy's largest bank, filed its Q2 2026 Form 13F, revealing significant changes to its cryptocurrency portfolio.

The bank slashed its position in BlackRock iShares Bitcoin Trust (IBIT) by approximately 94%, leaving a $1.36M position worth 40,723 shares as of June 30.

However, Intesa Sanpaolo tripled its stake in BlackRock's staked Ethereum product, purchasing 349,600 shares worth $7.1M by the end of Q2 2026.

This move comes as Bitcoin and Ethereum both experienced losses during the quarter, with Bitcoin falling 14% and spot Ethereum ETF products recording over $715M in outflows.

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