Italy’s biggest bank more than doubles crypto exposure to $235M

Italy’s largest bank, Intesa Sanpaolo, more than doubled its crypto holdings during the first quarter of 2026, increasing its digital asset exposure from roughly $100 million at the end of 2025 to approximately $235 million by 31 March 2026.

The sharp increase highlights growing institutional demand for cryptocurrency investments among major European banks as traditional financial institutions continue expanding into digital assets, Bitcoin ETFs and Ethereum investment products.

According to a report from local crypto outlet Criptovaluta.it, Intesa Sanpaolo significantly expanded its Bitcoin holdings through additional investments in the ARK 21Shares Bitcoin ETF and BlackRock’s iShares Bitcoin Trust ETF.

The Italian banking giant also entered Ethereum investments for the first time through BlackRock’s iShares Staked Ethereum Trust. In addition, the bank acquired exposure to XRP via the Grayscale XRP Trust ETF, with the position reportedly valued at around $26 million.

Intesa expands Bitcoin and Ethereum ETF exposure

The bank’s growing crypto portfolio reflects a broader trend of institutional crypto adoption across Europe, particularly among major financial institutions seeking exposure to regulated digital asset investment products.

Intesa Sanpaolo also opened a new position in iShares Bitcoin Trust call options, marking its first derivatives-based crypto trade. The bank previously confirmed that its cryptocurrency positions are held for proprietary trading purposes. However, it has not disclosed whether the assets are also used to hedge products offered to professional clients. The latest portfolio expansion places Intesa among the most active traditional European banks participating in the growing Bitcoin ETF and Ethereum ETF market.

Solana holdings slashed, adds BitGo and increases Coinbase stake

While increasing exposure to Bitcoin, Ethereum and XRP, Intesa sharply reduced its position in Solana, according to Cointelegraph. Its holdings in the Bitwise Solana Staking ETF dropped from 266,320 shares in the previous quarter to just 2,817 shares, representing an almost complete exit from the Solana-focused investment product.

On the equities side, Intesa Sanpaolo made several adjustments to its crypto-related stock portfolio. The bank added 165,600 shares of BitGo for the first time while fully exiting its position in Bitmine. It also increased its holdings in Coinbase from 1,500 shares to 10,357 shares, signalling growing confidence in crypto trading infrastructure and digital asset services. At the same time, the bank closed out its put options on Strategy and reduced its stake in Cantor Equity Partners II, the listing vehicle linked to tokenisation firm Securitize.

Ripple partnership strengthens Intesa’s crypto push

The investment expansion follows broader strategic moves by Intesa Sanpaolo into the digital asset sector. Last month, Ripple announced it would provide custody services to the Italian banking group, strengthening the bank’s involvement in crypto infrastructure and institutional blockchain services.

According to Cointelegraph, Intesa Sanpaolo’s crypto expansion comes as more European banks launch digital asset products and retail crypto trading services. BBVA recently became the first major Spanish bank to offer 24/7 Bitcoin and Ether trading through its mobile banking app. Meanwhile, BPCE introduced in-app crypto trading through regulated subsidiary Hexarq, targeting 12 million customers by 2026.

In Belgium, KBC Group has also expanded retail crypto services as demand for regulated digital asset access continues rising across Europe. At the infrastructure level, a consortium of major European banks including BNP Paribas, ING, UniCredit and Deutsche Bank formed Qivalis to launch a MiCA-compliant euro-backed stablecoin in the second half of 2026.