Intesa Sanpaolo more than doubled its crypto exposure in the first quarter of 2026, according to a report citing Criptovaluta.it data.
Summary
- Intesa Sanpaolo more than doubled crypto exposure to $235 million during the first quarter.
- The bank added Ether and XRP positions while expanding Bitcoin ETF exposure through listed products.
- Intesa nearly exited Solana, cutting its Bitwise Solana Staking ETF stake sharply during Q1.
The Italian banking group’s crypto-linked holdings rose from about $100 million at the end of 2025 to about $235 million by March 31.
The increase came mainly from larger Bitcoin ETF positions. Intesa added to its ARK 21Shares Bitcoin ETF and BlackRock iShares Bitcoin Trust holdings. Crypto.news had earlier reported that the bank disclosed nearly $100 million in Bitcoin ETF exposure at the end of 2025.
Ethereum and XRP enter the mix
The report said Intesa gained Ethereum exposure for the first time through BlackRock’s iShares Staked Ethereum Trust. That move widened the bank’s crypto book beyond Bitcoin and Solana-linked products.
Intesa also added XRP exposure through the Grayscale XRP Trust. The position was valued at about $26 million in the report. The bank has not said whether the holding supports only proprietary trading or also connects to products for professional clients.
Moreover, the bank moved away from Solana during the same quarter. Its Bitwise Solana Staking ETF position reportedly fell from 266,320 shares to only 2,817 shares, marking a near-total exit.
That shift shows a more selective approach to crypto exposure. Intesa increased Bitcoin positions and added Ether and XRP, while almost removing Solana from its disclosed ETF portfolio.
European banks keep moving into crypto
The latest filing builds on Intesa’s earlier Bitcoin activity. In January 2025, Reuters reported that the bank bought 11 BTC worth about €1 million in its first proprietary Bitcoin trade. CEO Carlo Messina called the move “a test” and said, “We won’t become a bitcoin player.”
Intesa’s wider digital asset links also include custody infrastructure. Crypto.news previously noted that the bank had worked with Ripple Custody, formerly Metaco, for tokenized asset custody.
Other European banks are also building crypto services and settlement tools. Crypto.news reported that a 12-bank group led by Qivalis selected Fireblocks to support a MiCA-compliant euro stablecoin planned for the second half of 2026.
