Intesa Sanpaolo, Italy’s largest banking group, has made a sharp turn in its cryptocurrency ETF portfolio, and the numbers tell a story of retreat from Bitcoin exposure paired with a notable bet on staked Ethereum. According to the bank’s latest Form 13F filing with U.S. regulators, Intesa Sanpaolo’s crypto holdings shifted dramatically between the first and second quarters of 2026, with its position in BlackRock’s iShares Bitcoin Trust (IBIT) shrinking by more than 93% while its stake in a staked Ethereum ETF nearly tripled. The filing, covering the period through June 30, 2026, offers a rare window into how one of Europe’s biggest lenders is repositioning its exposure to digital assets, even if it leaves several important…