Intesa Sanpaolo Triples Staked Ether ETF Holdings Amid Crypto Portfolio Shift

Intesa Sanpaolo, Italy's largest bank, has significantly increased its holdings of a staked ether ETF in the second quarter. According to a report, the bank held 349,600 shares of the iShares Staking Ethereum Trust ETF (ETHB) as of June 30, tripling its holding from 116,200 shares at end-March.

The ETHB holding was valued at $7.1 million, representing a substantial increase from the previous quarter's valuation of $3.15 million. Meanwhile, the bank reduced its weight of some bitcoin ETFs, with its holding of the iShares Bitcoin Trust ETF (IBIT) falling by about 94% to 40,723 shares.

Other notable changes in Intesa Sanpaolo's portfolio include a nearly doubling of its stake in BitGo and a significant decline in its Coinbase holdings. The Grayscale XRP Trust ETF (GXRP) remained unchanged at 712,319 shares.