Intesa Sanpaolo Trips Up on Ethereum Staking, Cuts Bitcoin ETF Stake Drastically

Italy's largest bank, Intesa Sanpaolo, has significantly adjusted its exposure to cryptocurrencies in its second-quarter filing. The bank tripled its holdings of the Ethereum (ETH) staking ETF, ETHB, to 349,600 shares worth $7.1 million as of June 30.

This is a notable increase from the first quarter, where Intesa Sanpaolo held 116,200 shares of ETHB, valued at $3.15 million. In contrast, its holdings in the iShares Bitcoin Trust ETF (IBIT) fell by approximately 94% to 40,723 shares.

The bank maintained its largest crypto-linked holding, a 3.47 million-share position in the ARK 21Shares Bitcoin ETF (ARKB), valued at $67.6 million as of June 30. This represented a decrease of only about 4% from the first quarter.