Intesa Sanpaolo Triples Staked Ether Holdings, Cuts IBIT Position

Intesa Sanpaolo, Italy's largest banking group, has significantly adjusted its holdings in various cryptocurrency exchange-traded funds (ETFs). The bank tripled its position in the iShares Staked Ethereum Trust ETF (ETHB) during the second quarter, increasing its shares from 116,200 to 349,600. This change is valued at $7.1 million as of June 30.

The value of this holding has more than doubled since March, when it was worth $3.15 million. Intesa Sanpaolo's largest crypto-linked holding remains the ARK 21Shares Bitcoin ETF (ARKB), with a share count of 3.47 million and a value of $67.6 million as of June 30.

The bank has reduced its position in the iShares Bitcoin Trust ETF (IBIT) by about 94%, from 646,809 shares to 40,723 shares. Intesa Sanpaolo also maintained its Grayscale XRP Trust ETF (GXRP) position unchanged at 712,319 shares and increased its BitGo stake nearly twice over.