According to CryptoSlate, Intesa Sanpaolo, Italy’s largest bank, made major changes to its crypto ETF portfolio in the second quarter. Regulatory filings show the bank cut its iShares Bitcoin Trust (IBIT) common stock position from 646,809 shares to 40,723 shares, a 93.7% reduction. Its IBIT call options exposure also fell steeply, with the share equivalent dropping from 2,496,500 to 18,000, down 99.3%. At the same time, a new IBIT put options position representing 500,000 shares appeared in the filing. The 13F report does not disclose strike price, expiration date, premium, or Delta, so the bank’s net options exposure cannot be determined and it remains unclear whether the put position was part of a hedging strategy. Elsewhere in the portfolio, Intesa Sanpaolo raised its iShares Ethereum staking trust holdings from 116,200 shares to 349,600 shares, roughly tripling the position. Its Bitwise Solana staking ETF holdings fell from 2,817 shares to just 7, while its XRP trust holdings stayed unchanged at 712,319 shares.
According to CryptoSlate, Intesa Sanpaolo, Italy’s largest bank, made sweeping changes to its crypto ETF holdings in the second quarter.
Filings show the bank cut its iShares Bitcoin Trust (IBIT) common stock position from 646,809 shares to 40,723 shares, a 93.7% drop. Its IBIT call options exposure also fell sharply, with the share equivalent declining from 2,496,500 to 18,000, a 99.3% reduction.
A new IBIT put options position representing 500,000 shares also appeared in the holdings report. The 13F filing does not disclose details such as strike price, expiration date, premium, or Delta, making it impossible to determine the bank’s net options exposure or whether the position was part of a hedge.
Outside its bitcoin-related holdings, the bank increased its iShares Ethereum staking trust position from 116,200 shares to 349,600 shares, roughly tripling the stake. Its Bitwise Solana staking ETF holdings fell from 2,817 shares to 7 shares, while its XRP trust position remained unchanged at 712,319 shares.
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