at a quick glance this decoration has some similarity to the Murano techniques of 'latticino' or possibly filigrana - processes which used white or coloured canes incorporated within the molten glass, which when blown or distorted produced internal threading, throughout the thickness of the piece, but ....
If as you say the white threading here is applied externally then it's not going to be either of the above.
Etching is a wet acid process made after the glass is cold and is the opposite, usually, of relief - in other words acid cuts into the glass to create a pattern of some sort and so is, as the Italians say, 'intaglio'. Assume there wasn't a makers label on this piece?
If you are able to see the thickness of the glass, is the white threading definitely on one side only, and not within the thickness, and assume can be felt on one side only. There are folk here who hopefully will have the answer to your question, but assuming the threading is a surface treatment only then it sounds to be possibly something akin to the C19 decorative process of applied machine threading. but that is my opinion only and I could be a long way from accuracy since I know almost nothing about C20 decorative art glass from northern Italy.
Fingers crossed someone here will be able to help.
