Italy's Largest Bank Triples Staked Ethereum ETF Position

Italy's largest banking group, Intesa Sanpaolo, has made significant changes to its cryptocurrency exchange-traded fund (ETF) holdings. According to a Form 13F filing with US regulators on July 31, the bank's common shares in the iShares Bitcoin Trust fund dropped by over 93% from 646,809 to 40,723.

The bank's call option position also shrunk dramatically, falling from 2,496,500 underlying shares to just 18,000. However, a new put option position appeared in the June filing, representing 500,000 underlying shares.

On the other hand, Intesa Sanpaolo's stake in the iShares Staked Ethereum Trust fund tripled, rising from 116,200 shares to 349,600 shares. This represents a significant increase in its Ethereum holdings.

The bank's position in the Bitwise Solana Staking ETF nearly disappeared, dropping from 2,817 shares to just seven. The XRP holding remained flat at 712,319 shares.