Intesa Sanpaolo Trims IBIT Holdings, Trips Up on Staked Ethereum

Italy's largest banking group, Intesa Sanpaolo, has significantly reduced its holdings in BlackRock's iShares Bitcoin Trust (IBIT) by 93.7% over the past three months.

The bank's reported exposure to IBIT dropped from 646,809 shares on March 31 to just 40,723 as of June 30.

Intesa Sanpaolo also more than tripled its holdings in staked Ethereum, with its iShares Staked Ethereum Trust ETF holding rising from 116,200 shares to 349,600.

The bank's move comes after a year of increasing its exposure to digital assets, including making its first direct Bitcoin purchase in January 2025 and offering options, futures, and spot ETFs linked to digital assets through a dedicated desk.