Intesa Sanpaolo Shifts Strategy with Major Ether ETF Buy

Intesa Sanpaolo recently updated its investment filings, showing a massive shift in how it handles digital assets. The banking giant sold off 94 percent of its position in the iShares Bitcoin Trust during the second quarter. This move contributed to a 35 percent drop in the bank's total bitcoin ETF holdings, which now sit at $69.3 million.

While the bank cooled on bitcoin, it went in the opposite direction with ether. Filings show the institution tripled its stake in the iShares Staked Ethereum Trust over the same period. This adjustment suggests the bank is rebalancing its digital asset exposure even as broader market sentiment for crypto assets faces pressure.

These trades happened while crypto prices struggled through a slump in the second quarter. Investors are watching closely to see if other major institutional players follow this rotation from bitcoin toward ether. For now, the move highlights a clear change in how large traditional financial firms manage their crypto baskets.