Italy's largest bank significantly reduced its holdings in Bitcoin ETFs and increased its holdings in staked Ethereum ETFs

According to CryptoSlate, Italy's largest bank, UniCredit, significantly adjusted its cryptocurrency ETF holdings in the second quarter. Documents show that the bank's holdings of iShares Bitcoin Trust (IBIT) common stock decreased from 646,809 shares to 40,723 shares, a decline of 93.7%; the number of shares corresponding to the IBIT call options held decreased from 2,496,500 shares to 18,000 shares, a decline of 99.3%.

At the same time, a new IBIT put option representing 500,000 shares appeared in the holdings, but the 13F document does not disclose details such as the strike price, expiration date, premium, and Delta, making it impossible to determine the bank's net options exposure or whether it is a hedging strategy. Additionally, the bank's holdings of iShares Staked Ethereum Trust increased from 116,200 shares to 349,600 shares, nearly doubling; the Bitwise Solana Staked ETF decreased from 2,817 shares to 7 shares; and the XRP Trust holdings of 712,319 shares remained unchanged.