Intesa Sanpaolo Slashes Bitcoin ETF, Triples Staked Ethereum Holdings

Italy’s largest bank, Intesa Sanpaolo, filed a Form 13F for the quarter ending 30 June that shows a dramatic reshuffle of its crypto‑asset portfolio. The bank cut its stake in BlackRock’s iShares Bitcoin Trust (IBIT) by 93.7%, reducing shares from 646,809 to 40,723, and trimmed its bullish Bitcoin call options by 99.3% while adding a put option covering 500,000 IBIT shares.

At the same time, the bank more than tripled its position in the iShares Staked Ethereum Trust, raising its holding from 116,200 to 349,600 shares. Its exposure to XRP remained unchanged at 712,319 shares of the Grayscale XRP Trust. Conversely, Intesa Sanpaolo almost completely exited the Bitwise Solana Staking ETF, dropping from 2,817 shares to just seven.