Intesa Sanpaolo slashed IBIT stake by 94% in 2Q, tripled ether ETF holding as crypto prices slumped
CoinDesk·
60-second summary
Intesa Sanpaolo significantly reduced its stake in IBIT by 94% in 2Q, while simultaneously tripling its holding in the iShares Staked Ethereum Trust ETF as crypto prices declined. This move comes as the bank's total bitcoin ETF holdings fell 35% to $69.3 million, highlighting a shift in the bank's crypto investment strategy amidst market volatility affecting the industry.
The Italian bank tripled its holding of iShares Staked Ethereum Trust ETF stake as total bitcoin ETF holdings fell 35% to $69.3 million.