
Italy’s biggest bank just slashed its Bitcoin ETF call position by 99% to triple down on staked Ethereum
Intesa Sanpaolo, Italy’s largest banking group, cut the underlying-share amount of its reported iShares Bitcoin Trust ETF call position by 99.3% in the second quarter, while a 500,000-share-equivalent held put row appeared and its staked Ethereum ETF balance roughly tripled. The changes mark a reset in the Italian bank’s disclosed quarter-end crypto ETF positions. They do not, by themselves, show that Intesa adopted a net bearish Bitcoin strategy. The bank’s July 31 Form 13F captures positions held on June 30. Its May 15 filing provides the March 31 comparison point, making the figures quarter-end snapshots rather than a record of…





