Italy's largest bank holds $96M in spot BTC ETFs

Italy's largest bank, Intesa Sanpaolo, has disclosed holdings of $96 million in spot Bitcoin ETFs and $184 million in MicroStrategy (MSTR) put options, according to a fourth-quarter 2025 13F filing reported by CoinDesk. The bank's other crypto-related assets include $4.3 million in a Solana staking ETF and $4.4 million in Circle shares.