Intesa Sanpaolo slashed its IBIT stake by 94% in Q2, while tripling its iShares Staked Ethereum Trust ETF (ETHB) holdings.
The bank now holds 40,723 IBIT shares, valued at $1.36 million, down from 646,809. Its ETHB stake jumped to 349,600 shares, worth $7.10 million. This came as Bitcoin slid 14% and Ether slumped 25% in the quarter.
Our read: institutional money wants yield, even in a down market. Staked ETH ETFs deliver that. Spot BTC ETFs don't. This isn't a long-term bearish signal for Bitcoin, but it shows where smart money finds value in this cycle.
Chase yield in a bear market, or wait?
$ETH $BTC
The bank now holds 40,723 IBIT shares, valued at $1.36 million, down from 646,809. Its ETHB stake jumped to 349,600 shares, worth $7.10 million. This came as Bitcoin slid 14% and Ether slumped 25% in the quarter.
Our read: institutional money wants yield, even in a down market. Staked ETH ETFs deliver that. Spot BTC ETFs don't. This isn't a long-term bearish signal for Bitcoin, but it shows where smart money finds value in this cycle.
Chase yield in a bear market, or wait?
$ETH $BTC
