Intesa Sanpaolo discloses $96M in spot Bitcoin ETFs in Q4 13F filing

Intesa Sanpaolo, Italy’s largest banking institution, disclosed a $96 million allocation to spot Bitcoin exchange-traded funds in its fourth-quarter Form 13F filed with the U.S. Securities and Exchange Commission, listing positions as of December 31, 2024, according to CoinDesk. The mandatory filing also showed $184 million in put options on MicroStrategy (MSTR) and additional crypto-linked positions, including $4.3 million in a Solana staking ETF and $4.4 million in shares of Circle, the issuer of the USDC stablecoin. Put options grant the right to sell stock at a preset price and can be used for hedging or speculation, while the ETF and equity exposures indicate the bank’s use of regulated instruments to access digital-asset markets, per the report. Spot Bitcoin ETFs were approved in the United States in early 2024, and CoinDesk reported that Intesa Sanpaolo manages approximately €1.1 trillion in customer assets.