Intesa Sanpaolo slashed Bitcoin ETF exposure by 94% while tripling its staked Ethereum holdings, signaling a strategic rotation away from Bitcoin spot exposure.

Macro & Markets · 2026-08-04

Intesa Sanpaolo reduced its BlackRock Bitcoin ETF holdings by 93.7% to 40,723 shares in the second quarter while expanding its staked Ethereum ETF position more than threefold to 349,600 shares, according to the bank's latest Form 13F filing. The shift reflects a broader institutional rotation toward yield-bearing Ethereum products, even as the wider US spot Bitcoin ETF market rebounded with $172.4 million in net inflows during July after months of heavy withdrawals.

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