Not all major institutions moved in the same direction. Intesa Sanpaolo, Italy's largest bank, cut its IBIT common-share holding by 93.7% during the second quarter, from 646,809 to 40,723 shares, while simultaneously tripling its stake in BlackRock's staked ether ETF (ETHB) and opening a new put position equivalent to 500,000 IBIT shares.
IBIT continues to dominate the spot Bitcoin ETF category. The fund captured $693 million of the $853.5 million in net inflows across all U.S. spot Bitcoin ETFs during the August 3–7 period, representing 81% of category flows. Total net assets across the category reached $79.5 billion as of August 7, with IBIT accounting for roughly 58.5% at $46.52 billion. The fund's shares trade at a 52-week range of $32.84 to $71.82, with a year-to-date total return of minus 27.03% as of mid-August.
Form 13F filings are quarter-end snapshots filed up to 45 days after period end and do not distinguish between proprietary and client assets. IBIT's market-price return fell 32.95% during the six months through June 30, meaning the increase in Tudor's reported position value came from additional shares rather than price appreciation. Whether the macro veteran's incremental add signals conviction or routine rebalancing will only become clearer in subsequent filings.
Sources: Source 1 · Source 2 · Source 3 · Source 4 · Source 5 · Source 6
