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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/05/2026

Intesa Sanpaolo Triples Ether ETF Holding, Slashes Bitcoin Exposure

What happened: Italy's largest bank, Intesa Sanpaolo, reduced its exposure to the iShares Bitcoin Trust (IBIT) by 94% in Q2 2026, holding just 40,723 shares worth $1.

Intesa Sanpaolo Triples Ether ETF Holding, Slashes Bitcoin Exposure

What happened: Italy's largest bank, Intesa Sanpaolo, reduced its exposure to the iShares Bitcoin Trust (IBIT) by 94% in Q2 2026, holding just 40,723 shares worth $1.36 million as of June 30. Simultaneously, it tripled its stake in the iShares Staked Ethereum Trust to 349,600 shares (~$7.10 million). The bank also nearly doubled its BitGo position, while cutting holdings in Coinbase (-32%), Circle (-10%), and Robinhood (-43%).

Why it matters: The sharp rotation from bitcoin to ether ETFs, alongside strategic options hedging, underscores shifting institutional sentiment amid a volatile quarter (BTC -14%, ETH -25%). Intesa's move mirrors broader ETF outflows—$4.89 billion net from US spot bitcoin ETFs in Q2—while highlighting a growing appetite for staking-based products and diversified crypto exposure.

Source: CoinDesk, Cryptonomist