Intesa Sanpaolo reduced its iShares Bitcoin Trust ETF call position by 99.3% in Q2, while introducing a 500,000-share-equivalent put position and tripling its staked Ethereum ETF balance. The bank's July 31 Form 13F revealed a drop in its common IBIT position from 646,809 shares to 40,723, a 93.7% decrease. The call position fell from 2,496,500 to 18,000 shares. The new put position did not appear in the previous quarter's report. These changes do not indicate a net bearish Bitcoin strategy. The filings also showed an increase in the iShares Staked Ethereum Trust ETF position from 116,200 shares to 349,600, while the Bitwise Solana Staking ETF position decreased from 2,817 shares to seven. XRP holdings remained unchanged at 712,319 shares. Overall, the filings indicate a significant reduction in Bitcoin-related positions, a larger staked Ethereum position, stable XRP shares, and minimal Solana ETF holdings, though the complete net Bitcoin-options position and strategy remain unclear.
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