Intesa Sanpaolo, Italy's largest bank, disclosed a $966.42 million stake in ****** eX just weeks after slashing its exposure to BlackRock's Bitcoin ETF.
The shift marks a clear pivot from direct crypto exposure toward an indirect bet through traditional equities.
According to the filing submitted on August 4, Intesa acquired 5.66 million ****** eX shares. The position became the largest in the bank's entire US portfolio.
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The stake represents roughly 33% of the $2.92 billion the bank holds in US-listed ****** ets. ****** eX went public on June 12. Elon Musk's company holds 18,712 BTC on its corporate balance sheet.
#bank #million #stake
The shift marks a clear pivot from direct crypto exposure toward an indirect bet through traditional equities.
According to the filing submitted on August 4, Intesa acquired 5.66 million ****** eX shares. The position became the largest in the bank's entire US portfolio.
Follow us on X to get the latest news as it happens.
The stake represents roughly 33% of the $2.92 billion the bank holds in US-listed ****** ets. ****** eX went public on June 12. Elon Musk's company holds 18,712 BTC on its corporate balance sheet.
#bank #million #stake
2 months ago
