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Italy’s Largest Bank Cuts BlackRock Bitcoin ETF Stake 94%: Rotation to Ethereum?
Intesa Sanpaolo, Italy’s largest banking group, slashed its Bitcoin ETF holding, BlackRock’s iShares Bitcoin Trust (IBIT), by 93.7% last quarter. The bank also tripled its stake in the iShares Staked Ethereum Trust ETF, its new Form 13F shows. The quarterly disclosure adds to evidence that some institutions now favor yield-bearing Ethereum funds over Bitcoin products.
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