Intesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumped

FinanceIntesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumpedThe Italian bank tripled its holding of iShares Staked Ethereum Trust ETF stake as total bitcoin ETF holdings fell 35% to $69.3 million.By Francisco Rodrigues|Edited by Sheldon Reback Aug 4, 2026, 2:25 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowItalian banking giant Intesa Sanpaolo cut its IBIT shareholding by 94%, nearly eliminated its calls and added puts covering 500,000 shares in the second quarter.In contrast, it tripled its stake in iShares Staked Ethereum Trust ETF (ETHB).Bitcoin slid 14% in the quarter and U.S. spot ETFs saw net outflows of $4.89 billion, while ether slumped 25% with a net $715 million of ETF outflows.Intesa Sanpaolo (ISP), Italy’s second-largest bank by market capitalization, reduced its bitcoin BTC$64,088.33 exposure through the iShares Bitcoin Trust (IBIT) ETF, in the second quarter, cutting its stake by 94% and nearly eliminating call options as the price of the largest cryptocurrency tumbled.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.The Turin-based company’s holdings restructuring took place during a quarter that saw the bitcoin price slump 14% after two successive quarters of declines in excess of 20%. For ether (ETH), in contrast, the bank bolstered its ETF positions even as the second-largest cryptocurrency slid 25%.It wasn’t alone in rejigging its exposure to cryptocurrencies. U.S. spot bitcoin ETFs overall recorded roughly $4.89 billion of net outflows in the three months through June, according to SoSoV…

Intesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumped

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