📌 ITALY’S LARGEST BANK SHARES SLASHES BITCOIN ETF, INCREASES PURCHASES OF ETH ETF
🏦 Intesa Sanpaolo, Italy’s largest bank, has just released its Q2 investment portfolio with many notable changes to crypto ETF funds.
👉 For BlackRock’s IBIT, the bank reduced its holdings by nearly 94%, from 646,809 shares (about $23.4 million) down to 40,723 shares (about $1.5 million). The call option on IBIT also dropped sharply from roughly $90 million to $650,000, while the bank added $18 million worth of put options to hedge against downside price risk.
📊 However, Intesa Sanpaolo still holds more than 3.47 million ARKB shares of Ark Invest, worth about $67.6 million—only a slight decrease of around 4% compared to the previous quarter. This remains the bank’s largest crypto investment in its portfolio.
⚡ On the other hand, the bank tripled its holdings of the ETH staking ETF, from 116,200 to 349,600 shares—equivalent to about $7 million.
⚠️ Overall, Intesa Sanpaolo’s investment scale in Bitcoin ETFs is still nearly 10 times larger than its Ethereum ETF position. This suggests it is more likely a portfolio reshuffle and risk management exercise, rather than a sign that capital is strongly shifting from Bitcoin to Ethereum.
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🏦 Intesa Sanpaolo, Italy’s largest bank, has just released its Q2 investment portfolio with many notable changes to crypto ETF funds.
👉 For BlackRock’s IBIT, the bank reduced its holdings by nearly 94%, from 646,809 shares (about $23.4 million) down to 40,723 shares (about $1.5 million). The call option on IBIT also dropped sharply from roughly $90 million to $650,000, while the bank added $18 million worth of put options to hedge against downside price risk.
📊 However, Intesa Sanpaolo still holds more than 3.47 million ARKB shares of Ark Invest, worth about $67.6 million—only a slight decrease of around 4% compared to the previous quarter. This remains the bank’s largest crypto investment in its portfolio.
⚡ On the other hand, the bank tripled its holdings of the ETH staking ETF, from 116,200 to 349,600 shares—equivalent to about $7 million.
⚠️ Overall, Intesa Sanpaolo’s investment scale in Bitcoin ETFs is still nearly 10 times larger than its Ethereum ETF position. This suggests it is more likely a portfolio reshuffle and risk management exercise, rather than a sign that capital is strongly shifting from Bitcoin to Ethereum.
👇 HOT COIN TRADING HERE 👇
$VIC
$TUT
$HOME