Italy’s Intesa Sanpaolo cuts IBIT call exposure 99%, triples ETH staking ETF holdings

Italy’s largest banking group, Intesa Sanpaolo, cut the underlying size of its call options position tied to BlackRock’s Bitcoin ETF IBIT by 99% while more than tripling its holdings of BlackRock’s Ethereum staking ETF, CryptoSlate reported. Intesa Sanpaolo’s holdings of IBIT common shares fell 93.7% to 40,723 shares from 646,809 shares, according to the report. At the same time, a new 500,000-share IBIT put options position was disclosed. Holdings of BlackRock’s Ethereum staking ETF rose to 349,600 shares from 116,200 shares, while holdings of Bitwise’s Solana staking ETF fell to seven shares from 2,817 shares. The 13F filing was submitted on July 31, local time, and reflects holdings as of June 30, compared with a filing submitted on May 15 that reflected positions as of March 31. The filing shows holdings at quarter-end and does not indicate when the actual trades were made, according to the report.