Intesa Sanpaolo Slashes IBIT, Boosts ETH ETF Stake

• Intesa Sanpaolo cut its IBIT holdings by 94% in Q2
• .The bank tripled its investment in a staked Ethereum ETF.
• The portfolio shift highlights changing institutional crypto exposure.

Italy’s largest bank, Intesa Sanpaolo, significantly adjusted its cryptocurrency ETF portfolio during the second quarter, sharply reducing its exposure to Bitcoin while increasing its allocation to Ethereum.

According to the latest filing, the bank cut its holdings in BlackRock’s iShares Bitcoin Trust (IBIT) by 94%. At the same time, it tripled its position in a staked Ethereum ETF, signaling a notable change in its digital asset investment strategy.

The move reflects how institutional investors continue to rebalance crypto portfolios in response to evolving market conditions and investment opportunities.

Ethereum Gains Favor Over Bitcoin

The increase in the bank’s staked Ethereum ETF position suggests growing institutional interest in Ethereum’s yield-generating potential through staking.

Unlike traditional spot Bitcoin ETFs, staked Ethereum ETFs can provide additional returns by distributing staking rewards, making them attractive to investors seeking income alongside price exposure.

Meanwhile, the sharp reduction in IBIT holdings may reflect portfolio reallocation rather than a broader loss of confidence in Bitcoin.

Institutional Strategies Continue to Evolve

The latest Intesa Sanpaolo crypto ETFs adjustment underscores the growing sophistication of institutional digital asset investing.

As regulated crypto investment products continue to expand, large financial institutions are increasingly tailoring their portfolios based on factors such as market outlook, yield opportunities, and diversification. Investors will be watching whether other banks and asset managers make similar shifts between Bitcoin and Ethereum-focused products in the coming quarters.