Intesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumped
The Italian bank tripled its holding of iShares Staked Ethereum Trust ETF stake as total bitcoin ETF holdings fell 35% to $69.3 million.
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Summary
- Italian 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.
