Italy's largest bank liquidates its position in a Bitcoin spot ETF and significantly increases its position in an Ethereum spot ETF

August 4th, Italy's largest bank UniCredit, together with Banco Santander, submitted a 13F filing showing that the bank reduced its holdings of IBIT common stock from 646,809 shares to 40,723 shares at the end of the second quarter, a decrease of 93.7%. The number of underlying stocks in the bank's long call options position decreased from 2,496,500 shares to 18,000 shares, a 99.3% decrease. While reducing its exposure to Bitcoin spot ETF positions, the bank also added IBIT put options and increased its holdings of iShares Ethereum ETF from 116,200 shares to 349,600 shares, a slightly more than threefold increase.