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Intesa Sanpaolo triples staked Ether ETF holdings to $7.1 million

The Italian banking group raised ETHB holdings to 349,600 shares as of June 30, up from 116,200 shares at end of March.

Reported · Written up by our desk · Market Structure

Italy’s largest bank, Intesa Sanpaolo, increased its exposure to crypto via ETFs by tripling its position in a staked Ether product during the second quarter, according to a US Securities and Exchange Commission filing cited by Cointelegraph.

The bank held 349,600 shares of the iShares Staked Ethereum Trust ETF (ETHB), valued at $7.1 million as of June 30, up from 116,200 shares worth $3.15 million at the end of March.

In the same filing, Intesa Sanpaolo reduced its exposure to two spot Bitcoin ETFs. It cut its iShares Bitcoin Trust ETF (IBIT) shareholding by about 94% to 40,723 shares from 646,809 shares, while keeping 3.47 million shares of the ARK 21Shares Bitcoin ETF (ARKB) valued at $67.6 million.

Cointelegraph also reports that the bank retained its Grayscale XRP Trust ETF (GXRP) position at 712,319 shares, nearly doubled its BitGo stake to 323,000 shares, and reduced its Coinbase position to 7,000 shares. The outlet added that ETF wrappers can offer regulated access to digital assets while avoiding the custody, compliance, and operational requirements of holding cryptocurrencies directly.

Latest closeBitcoin $63,729.65 ▲0.4%|Ethereum $1,866.35 ▼0.9%|XRP $1.074 ▼0.9%

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