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Intesa Sanpaolo Rewrites Crypto Bet | Bitcoin and Crypto News
Description
Italy’s second-largest bank, Intesa Sanpaolo, dramatically scaled back its Bitcoin ETF exposure—cutting holdings by 94% and nearly eliminating call options—amid a 14% Bitcoin price drop. Meanwhile, it tripled its Ethereum ETF position despite Ether’s own 25% decline. The bank also shifted crypto stock bets, doubling BitGo while trimming Coinbase and Robinhood, and piled into SpaceX (which holds Bitcoin) while slashing Tesla stakes—all as U.S. Bitcoin ETFs saw $5 billion in outflows over the quarter.
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