In a medium saucepan over medium heat, heat chicken broth to a low simmer. Reduce heat to low. Transfer 1/2 cup broth to a bowl and stir in saffron threads.

In a medium skillet over medium-high heat, stir pistachios 2 to 3 minutes until toasted and fragrant. Transfer to a cutting board and coarsely chop.

Heat a large Dutch oven or saucepan over medium heat. Add olive oil. Once oil is shimmering, add onion and salt and cook 2 to 3 minutes until soft but not browned. Add rice and cook another 3 minutes or so until rice is more milky white than translucent.

Add wine. Cook, stirring often until rice absorbs most of liquid. Transfer 1 cup of chicken broth to rice mixture in saucepan. Stir often until most of liquid is absorbed. Repeat process until 5 cups of broth have been added. Pour in saffron broth and stir until most of liquid is absorbed. At this point, rice should be tender with a slight bite; if it's still too crunchy, continue to add broth 1/2 cup at a time and stir until most of liquid is absorbed and rice is tender.

Stir in shrimp, butter, 1/4 cup chopped pistachios and 1/4 cup grated cheese. Season with salt and pepper, to taste. Transfer to serving bowls and sprinkle with remaining chopped pistachios and grated cheese.