According to the bank’s latest Form 13F filing, its direct holdings in BlackRock’s iShares Bitcoin Trust declined by 93.7% from the previous quarter to 40,723 shares. Its reported call option exposure, which would benefit from a rise in Bitcoin-related prices, also fell by 99.3% to the equivalent of 18,000 shares.
In contrast, Intesa Sanpaolo increased its position in the iShares Staked Ethereum Trust ETF from 116,200 shares to 349,600 shares. The bank also reported a put option position covering 500,000 IBIT shares, although the filing does not clarify whether this represents a bearish view or a hedge designed to limit risks elsewhere in the portfolio.
The restructuring also extended to Solana, with the bank reducing its Bitwise Solana Staking ETF position from 2,817 shares to only seven. Since Form 13F disclosures do not include details such as strike prices, expiration dates or the institution’s complete net exposure, the filing provides only a partial snapshot of Intesa Sanpaolo’s broader cryptocurrency strategy.
