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4d ago

Intesa Sanpaolo Cuts IBIT Stake Nearly 94% and Triples Staked‑Ethereum Holding

The July 31 Form 13F that reports positions as of June 30 leaves unclear whether the moves reflect hedging or a genuine shift into yield‑bearing Ethereum products.

Intesa sanpaolo slashed ibit stake by 94% in 2q, tripled ether etf holding as crypto prices slumped
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Overview

  • In the Form 13F filed July 31 reporting June 30 positions, Intesa reduced its iShares Bitcoin Trust (IBIT) common shares to 40,723 from 646,809 and cut the reported IBIT call underlying‑share equivalent by about 99%.
  • The June filing added a held‑put row covering 500,000 IBIT underlying shares but the 13F does not show option strikes, expirations, premiums, delta values, or counterparty details so the document cannot prove net short exposure or motive.
  • Intesa more than tripled its iShares Staked Ethereum Trust (ETHB) holding to 349,600 shares while its Bitwise Solana Staking ETF stake fell to seven shares and its Grayscale XRP Trust count stayed unchanged.
  • The bank still reported about 3.47 million ARK 21Shares Bitcoin ETF (ARKB) shares worth roughly $67.6 million, showing the IBIT cuts do not amount to a full exit from Bitcoin exposure within the filing.
  • Because Form 13F is a quarter‑end snapshot that omits many option details and off‑balance‑sheet positions, the next quarterly filing will be the first clear test of whether this reallocation endures and whether the bank truly shifted toward yield‑oriented Ethereum products.