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European banking giant Intesa reveals $100M Bitcoin ETF position

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European banking giant Intesa reveals $100M Bitcoin ETF position

Italian banking giant Intesa Sanpaolo has disclosed significant exposure to bitcoin exchange-traded funds (ETFs) and crypto-linked assets in its latest U.S. Securities and Exchange Commission (SEC) Form 13F filing for the quarter ending December 31, 2025.

Summary

  • Intesa Sanpaolo disclosed nearly $100 million in Bitcoin ETF holdings in its latest Form 13F filing with the U.S. Securities and Exchange Commission for Q4 2025.
  • The bulk of the exposure comes from positions in U.S.-listed spot Bitcoin ETFs, signaling growing institutional adoption among major European banks.
  • The filing highlights continued integration of regulated crypto investment products into traditional banking portfolios amid rising institutional demand.

Italy’s Intesa Sanpaolo joins institutional Bitcoin ETF rush

According to the SEC filing, the lender held approximately $96 million in spot bitcoin ETF positions at the end of last year, marking a notable step by a major European financial institution into regulated crypto markets.

The largest individual stake was in the ARK 21Shares Bitcoin (BTC) ETF, valued at roughly $72.6 million, followed by about $23.4 million in iShares Bitcoin Trust.

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In addition to these core bitcoin ETF positions, Intesa Sanpaolo also listed a smaller $4.3 million holding in the Bitwise Solana Staking ETF, broadening its exposure to digital assets beyond bitcoin.

Beyond ETF holdings, the filing revealed a sizable put option position tied to MicroStrategy, a corporation known for holding large quantities of bitcoin, suggesting a hedge strategy that could benefit if that company’s stock trades down toward the value of its bitcoin assets.

Intesa Sanpaolo’s 13F filing also included minor equity stakes in several crypto-linked companies, such as Coinbase and Circle, reflecting a diversified digital asset strategy that extends past passive ETF index exposures.

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Investment analysts see the disclosure as part of a broader institutional trend of regulated financial firms incorporating digital asset products into client offerings and treasury strategies, even amid volatility in the cryptocurrency markets.

The news shows the evolving interface between traditional banking giants and crypto-linked financial instruments.

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Market Analysis: Gold Sees Profit-Taking While WTI Crude Tests Key Support

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Market Analysis: Gold Sees Profit-Taking While WTI Crude Tests Key Support

Gold price started a downside correction from $5,115. WTI Crude oil is now attempting to recover after sliding toward $61.80.

Important Takeaways for Gold and WTI Crude Oil Prices Analysis Today

· Gold price climbed higher toward the $5,120 zone before there was a sharp decline against the US Dollar.

· A key bearish trend line is forming with resistance at $4,945 on the hourly chart of gold at FXOpen.

· WTI Crude oil prices extended losses below the $63.40 pivot zone.

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· It dipped below a rising channel with support at $62.85 on the hourly chart of XTI/USD at FXOpen.

Gold Price Technical Analysis

On the hourly chart of Gold at FXOpen, the price climbed above $5,000. The price even spiked above $5,100 before the bears appeared.

A high was formed near $5,115 before there was a fresh decline. The last swing high was near $5,052 before the price settled below $5,000 and the 50-hour simple moving average. It tested the $4,850 zone.

A low is formed near $4,842, and the price is now correcting losses. There was a minor move above the 23.6% Fib retracement level of the downward move from the $5,052 swing high to the $4,842 low.

Immediate barrier on the upside is $4,945, the 50-hour simple moving average, and the 50% Fib retracement. There is also a bearish trend line with resistance at $4,945. The first major hurdle for the bulls could be $4,970.

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A close above $4,970 could send the price above $5,000. The next sell zone sits at $5,050, above which the price could test the $5,115 region. Any more gains might call for a move toward $5,200.

An upside break above $5,200 could send Gold price toward $5,285. Initial support on the downside is $4,885. The next key level is $4,840. If there is a downside break below $4,840, the price might decline further. In the stated case, the price might drop toward $4,750.

WTI Crude Oil Price Technical Analysis

On the hourly chart of WTI Crude Oil at FXOpen, the price struggled to continue higher above $65.00 against the US Dollar. The price formed a short-term top and started a fresh decline below $64.20.

There was a steady drop below the $63.40 pivot level. The bears even pushed the price below $62.50, a rising channel, and the 50-hour simple moving average. Finally, the price tested $61.80. The recent swing low was formed near $61.80, and the price is now correcting losses.

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There was a move above the 23.6% Fib retracement level of the downward move from the $63.94 swing high to the $61.80 low. On the upside, immediate resistance is near the 50% Fib retracement at $62.85.

The main hurdle is $63.40. A clear move above $63.40 could send the price toward $63.95. The next stop for the bulls might be $64.85.

If the price climbs further, it could face sellers near $65.60. Immediate support is $61.80. The next major breakdown level on the WTI crude oil chartis $60.50. If there is a downside break, the price might decline toward $58.80. Any more losses may perhaps open the doors for a move toward $56.50.

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This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

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Farming HIP-3 Protocols on Hyperliquid

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Farming HIP-3 Protocols on Hyperliquid


Trends to Watch (HIP-3 protocols, AI trenches)

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Bitcoin ETFs Post $105M Outflows As Hong Kong Buyer Emerges

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Bitcoin ETFs Post $105M Outflows As Hong Kong Buyer Emerges

US spot Bitcoin exchange-traded funds (ETFs) posted $104.9 million in net outflows on Tuesday in the first trading session this week.

Total trading volume in spot Bitcoin (BTC) ETFs fell to just over $3 billion, down nearly 80% from a record $14.7 billion on Feb. 5, reflecting a continued slowdown in trading activity, according to SoSoValue data.

Daily flows in US spot Bitcoin ETFs since Feb. 9, 2026. Source: SoSoValue

The outflows came as another round of institutions reported their Bitcoin ETF holdings for the fourth quarter of 2025, with Jane Street ranking as the second-largest buyer of BlackRock’s iShares Bitcoin ETF (IBIT) in Q4, buying $276 million.

Q4 also saw a new IBIT entrant, an obscure Hong Kong-based company called Laurore, which acquired $436.2 million of the ETF in a single purchase reported to the US Securities and Exchange Commission.

A potential sign of Chinese institutions moving into Bitcoin?

According to Bitwise Investments adviser Jeff Park, Laurore’s newly disclosed position in IBIT could be an early indication of institutional Chinese capital entering Bitcoin.

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Park said Laurore has no public footprint — no website or press — and the only available information is that the filer’s name is Zhang Hui, the Chinese equivalent of “John Smith.”

Source: Jeff Park

While Park speculated that the investment may be linked to capital flight, some commentators questioned why the company would choose to buy Bitcoin through an ETF rather than directly.

Brevan Howard slashes IBIT holdings by 85%

Beyond Laurore and Jane Street, several institutions made significant moves with IBIT in Q4 2025. Weiss Asset Management reportedly added about 2.8 million shares ($107.5 million), while 59 North Capital increased its position by 2.6 million shares ($99.8 million).

Abu Dhabi’s state-owned investment firm Mubadala Investment also boosted its IBIT holdings by 45%, rising from 8.7 million shares in Q3 to 12.7 million in Q4, valued at $630.7 million.

Source: Zerohedge

In contrast, some companies cut their Bitcoin ETF exposure in Q4 2025. Brevan Howard reduced its IBIT holdings, dropping about 85% from 37 million shares ($2.4 billion) in Q3 2025 to about 5.5 million shares ($273.5 million) in Q4.

Goldman Sachs also trimmed its IBIT holdings by about 40%, leaving around $1 billion in assets.

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