Intesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumped
Italian bank Intesa Sanpaolo significantly reduced its exposure to Bitcoin ETFs while increasing its holdings in Ethereum-based products during the second quarter. The bank also disclosed a major new position in SpaceX and adjusted its stakes in various crypto-linked equities amid market volatility.
The bank reported owning 40,723 shares of IBIT valued at $1.36 million as of June 30, down from 646,809 shares three months earlier, according to its latest filings . The bank also got rid of 99% of its call options, which give it the right, but not the obligation, to buy shares in the ETF at a predetermined price, while adding put options, which give the equivalent right to sell.
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