Intesa Sanpaolo Shifts Crypto Portfolio Amid Market Turbulence

Intesa Sanpaolo has reshaped its digital asset portfolio in the second quarter of 2026. The Italian banking giant reduced its stake in Blackrock's iShares Bitcoin Trust (IBIT) by approximately 94%, from 646,809 shares to 40,723 shares.

The value of this remaining position was $1.36 million as of June 30. Intesa also eliminated 99% of its IBIT call options and acquired a new put position covering 500,000 shares, a contract that gains value if the ETF's price declines further.

However, the bank did not completely exit Bitcoin, maintaining a 3.47 million-share stake in the ARK 21Shares Bitcoin ETF (ARKB), worth $67.6 million at quarter-end.

This holding remains the single largest crypto-linked exposure in Intesa's filing and is down just 4% from the prior quarter.