Intesa Sanpaolo, Italy’s largest banking group, cut its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) by 93.7% in the second quarter, reducing its position from 646,809 shares on March 31 to 40,723 shares on June 30. At the same time, the bank more than tripled its position in iShares Staked Ethereum Trust ETF, increasing from 116,200 to 349,600 shares. This reallocation reflects a broader trend among BlackRock clients, who sold approximately $60 million of IBIT while buying more than $20 million of ETHA. U.S. spot Bitcoin ETFs recorded a record monthly net outflow of $4.5 billion in June before reversing with $172.4 million in inflows in July. BlackRock’s IBIT remains the dominant fund with nearly $61 billion in total inflows since its listing.
Source: Read the original article
