Italian Banking Giant Discloses Holding Approximately $96 Million in Bitcoin Spot ETFs by End of 2025, and Has Established Strategy Put Options for Hedging

Odaily News According to its 13F disclosure for the period ending December 2025, Italian banking giant Intesa Sanpaolo reported holding approximately $96 million worth of Bitcoin spot ETFs, including the ARK 21Shares Bitcoin ETF and the iShares Bitcoin Trust. Simultaneously, Intesa Sanpaolo also holds a significant put option position on Strategy, which the market interprets as a hedge against Strategy's stock price being overvalued relative to its Bitcoin asset value (mNAV) while being long on Bitcoin ETFs. (CoinDesk)