Intesa Sanpaolo Cuts IBIT 93.7% While Tripling ETH Staking ETF Holdings

Italy's largest bank slashed BlackRock Bitcoin ETF stakes by 93.7% and added puts, while tripling Ethereum staking ETF exposure to $7.1M amid Q2 crypto downturn.

Woofun AI data shows that Intesa Sanpaolo's latest SEC filing reveals a sharp pivot in digital asset strategy as of June 30, 2026. The bank reduced its position in BlackRock's iShares Bitcoin Trust (IBIT) by approximately 93.7%, from 646,809 shares to 40,723 shares, while establishing a new put option position covering 500,000 shares. Conversely, holdings in BlackRock's iShares Staking Ethereum Trust ETF (ETHB) nearly tripled to 349,600 shares, increasing the portfolio value to around $7.1 million. The institution maintained its largest crypto holding in ARK's 21Shares Bitcoin ETF (ARKB), valued at $67.6 million, while effectively exiting Bitwise's SOL Staking ETF and keeping Grayscale's XRP Trust shares unchanged.