BlockBeats News, February 17 — Italian banking giant Intesa Sanpaolo revealed in its 13F filing for the period ending December 2025 that it holds approximately $96 million worth of Bitcoin spot ETFs, including the ARK 21Shares Bitcoin ETF and iShares Bitcoin Trust. Additionally, Intesa Sanpaolo holds a large put option position targeting Strategy, which the market interprets as hedging against the overvaluation of Strategy’s stock price relative to its Bitcoin asset value (mNAV) while being long Bitcoin ETFs. (CoinDesk)
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