Italy's Largest Bank Cuts Stake in IBIT by 94%, Simultaneously Increases Stake in ETHB

cryptonews.ruPublished on 2026-08-05Last updated on 2026-08-05

Abstract

Italy's largest banking group, Intesa Sanpaolo, sharply reduced its stake in the iShares Bitcoin Trust (IBIT) while significantly increasing its position in the iShares Staked Ethereum Trust ETF (ETHB) during Q2. According to a 13F filing, the bank's holdings in IBIT plummeted by 93.7% to 40,723 shares as of June 30, from 646,809 shares at the end of March. The associated call option position was reduced by over 99%. Concurrently, its stake in the Ethereum-focused ETHB fund more than tripled, rising from 116,200 to 349,600 shares. The report also noted a dramatic reduction in its holdings of a Bitwise Solana Staking ETF. The BlackRock-managed ETHB fund, launched in February 2026, combines exposure to Ethereum's market price with staking rewards and held approximately $562.5 million in net assets by early August. Intesa Sanpaolo reported total assets of €992.67 billion and a net profit of €5.55 billion for the first half of 2026.

Italy's largest banking group, Intesa Sanpaolo, sharply reduced its stake in BlackRock's iShares Bitcoin Trust (IBIT) in the second quarter. At the same time, the bank more than tripled its assets in ETHB from the same company.

According to 13F data, as of June 30, Intesa Sanpaolo owned 40,723 shares of IBIT, which is 93.7% less than the 646,809 shares reported on March 31. The report also indicated a significant change in the reported position for call options on the fund's shares. The number of underlying shares associated with the call option decreased from 2,496,500 to 18,000, a drop of over 99%. Positions in the Bitwise Solana Staking ETF also declined, from 2,817 to just seven shares.

Meanwhile, the bank's stake in the iShares Staked Ethereum Trust ETF increased from 116,200 to 349,600 shares.

For the first half of 2026, Intesa reported total assets of €992.67 billion and a net profit of €5.55 billion.

BlackRock's Ethereum fund, trading under the ticker ETHB, combines the ability to profit from Ethereum's market price with rewards for staking a portion of its assets. As of early August, the net assets of the fund, which was launched on the Nasdaq exchange in February 2026, amounted to approximately $562.5 million.

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