Italy’s Largest Bank Triples Staked Ether ETF Position
Intesa Sanpaolo, Italy’s largest banking group, tripled its investment in BlackRock’s iShares Staked Ethereum Trust ETF during the second quarter while reducing exposure to spot Bitcoin funds.
The bank held 349,600 ETHB shares worth $7.1 million as of June 30, up from 116,200 shares valued at $3.15 million at the end of March.
Intesa retained 3.47 million shares of the ARK 21Shares Bitcoin ETF worth $67.6 million, although its position declined by about 4%. It also cut its holdings in BlackRock’s iShares Bitcoin Trust by roughly 94%, from 646,809 shares to 40,723.
The bank kept its Grayscale XRP Trust ETF position unchanged, nearly doubled its stake in BitGo and reduced its Coinbase holdings to 7,000 shares.
Crypto ETFs allow banks and other institutions to gain regulated exposure to digital assets without directly handling cryptocurrency custody and compliance. $BTC
Intesa Sanpaolo, Italy’s largest banking group, tripled its investment in BlackRock’s iShares Staked Ethereum Trust ETF during the second quarter while reducing exposure to spot Bitcoin funds.
The bank held 349,600 ETHB shares worth $7.1 million as of June 30, up from 116,200 shares valued at $3.15 million at the end of March.
Intesa retained 3.47 million shares of the ARK 21Shares Bitcoin ETF worth $67.6 million, although its position declined by about 4%. It also cut its holdings in BlackRock’s iShares Bitcoin Trust by roughly 94%, from 646,809 shares to 40,723.
The bank kept its Grayscale XRP Trust ETF position unchanged, nearly doubled its stake in BitGo and reduced its Coinbase holdings to 7,000 shares.
Crypto ETFs allow banks and other institutions to gain regulated exposure to digital assets without directly handling cryptocurrency custody and compliance. $BTC