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Italy's Largest Bank Reduces Bitcoin Holdings, Triples Staked Ethereum Bet

Guavy AI Editorial Team
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Italy's largest bank, Intesa Sanpaolo, has made significant changes to its crypto portfolio in the second quarter of 2026. The bank reduced its holdings in BlackRock's iShares Bitcoin Trust (IBIT) by almost 94%, cutting its position from 646,809 shares to just 40,723 shares.

This move is estimated to be worth around $22 million and marks a significant shift away from Bitcoin for the bank. At the same time, Intesa Sanpaolo has increased its investment in staked Ethereum ETFs, almost tripling its position to 349,600 shares from 116,200 shares.

The reason behind this change is believed to be the desire for steady crypto rewards beyond price gains. Staked Ethereum ETFs generate staking rewards in addition to price movement, allowing investors to earn ongoing yield while holding the asset.

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