Intesa Sanpaolo, Italy’s largest banking group, reduced its position in IBIT (BlackRock’s iShares Bitcoin Trust) from 648,923 shares to just 40,723 shares in Q2 2026, a 93.7% decrease. Its exposure through IBIT call options also dropped 99.3%, from 2.75 million shares to 18,000 shares, while the group established a new put option position of 500,000 IBIT shares. Conversely, the bank nearly tripled its holdings in the iShares Staked Ethereum Trust ETF, increasing from 116,200 to 349,600 shares. This reallocation may reflect the substantial outflows recorded by Bitcoin ETFs in H1 2026.
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