Intesa Sanpaolo Slashes IBIT Stake, Triples Staked Ethereum Holdings

Italy's largest banking group, Intesa Sanpaolo, made significant changes to its cryptocurrency holdings in the second quarter. The bank reduced its common share position in the iShares Bitcoin Trust (IBIT) by 93.7% from March 31 to June 30, cutting its stake from 646,809 shares to just 40,723.

The bank also significantly reduced its held call exposure in IBIT, lowering it from 2.49 million underlying shares to a mere 18,000. A new put row representing 500,000 underlying shares appeared in the June filing, but its purpose remains unclear due to the lack of detailed information.

Meanwhile, Intesa Sanpaolo more than tripled its holdings of staked Ethereum ETF shares to 349,600, as part of a larger increase from 116,200 shares. Its Bitwise Solana Staking ETF position fell sharply from 2,817 shares to just seven.