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Crypto

Italy's Intesa Sanpaolo cuts SOL, adds ETH and XRP in crypto rebalancing

Italy's largest bank Intesa Sanpaolo more than doubled its cryptocurrency-related holdings in the first quarter. Its crypto exposure rose to about $235 million as of March 31 from about $100 million at the end of 2025. The bank increased holdings of spot bitcoin ETFs, added ether and XRP via trust products, and sharply reduced a Solana staking ETF position. It also began derivatives trading with a new call option position tied to a bitcoin trust.

Crypto

Strategy STRC demand surges, but analyst warns liquidity and rate risks are underpriced

Investors in Strategy's STRC may not be fully pricing key risks of perpetual preferred shares, an asset manager's chief investment officer said. Matt Dines of BuildMarkets said such products are structurally exposed to tightening liquidity and rising interest rates because issuers have no obligation to return principal and investors must sell in secondary markets to cash out. The warning comes as STRC demand and trading volumes rise and issuance limits draw attention.

AI & Enterprise

Hedge fund billionaires make opposing bets on Microsoft and Alphabet

U.S. billionaire hedge fund managers Bill Ackman and Daniel Loeb took opposing positions on Microsoft and Alphabet in the first quarter, a filing-based report showed. Ackman’s Pershing Square built a new Microsoft stake of about 5.65 million shares worth roughly $2.09 billion, while Loeb’s Third Point sold its entire Microsoft holding and added about 175,000 Alphabet shares. The split is linked to differing views on AI investment and valuation.