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Italy's Largest Bank Expands Crypto Exposure, Buys ETH and XRP ETFs

Italy's largest bank, Intesa Sanpaolo, officially doubles its crypto-related investment exposure to around $235 million in the first quarter of 2026, a sharp increase from $100 million at the end of last year. According to the latest report, this banking giant is expanding its portfolio by increasing allocations to spot Bitcoin ETFs (ARKB and IBIT), as well as making its first investment in BlackRock's Ether staking ETF (ETHB). Additionally, Intesa Sanpaolo also built a new position worth $26 million through Grayscale's XRP spot ETF and started venturing into derivatives by purchasing call options on Bitcoin ETFs.
On the other hand, the bank is restructuring its other digital assets by drastically reducing holdings in Solana (Bitwise Solana Staking ETF). Intesa Sanpaolo also strengthened its crypto company stock portfolio by purchasing 165,600 shares of BitGo and increased its Coinbase holdings to 10,357 shares. Industry analysts view this aggressive move by the European bank as a positive long-term sentiment, demonstrating that global institutional adoption continues to expand outside the US, despite the crypto market facing short-term macro pressures.
ETH0.25%
XRP-1.21%
BTC-0.4%
IBIT-2.97%
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Sakura_3434
· 4h ago
Just charge forward 👊
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Sakura_3434
· 4h ago
2026 GOGOGO 👊
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