Intesa Sanpaolo Shifts Portfolio, Tripling Its Ethereum Holdings

Intesa Sanpaolo, Italy's largest banking group, has made significant changes to its cryptocurrency portfolio. The bank sold a substantial portion of its Bitcoin holdings, reducing its position in BlackRock's iShares Bitcoin Trust (IBIT) fund by 93.7% compared to the previous quarter. As of June 30, the bank held only 40,723 shares.

In addition to reducing its Bitcoin holdings, Intesa Sanpaolo also significantly decreased its investment in the Bitwise Solana Staking ETF. Its position in the SOL fund fell from 2,817 shares to just 7 shares.

On the other hand, the bank nearly tripled its iShares Staked Ethereum Trust ETF position, increasing it from 116,200 shares to 349,600 shares as of June 30.