Intesa Sanpaolo Doubles Crypto Holdings to $235M Amid Bitcoin and Ethereum Exposure

Intesa Sanpaolo's crypto holdings have seen significant growth in the first quarter of 2026. The bank's total exposure rose from around $100 million to approximately $235 million by March 31, according to data from Criptovaluta.it.

The expansion was driven primarily by increased Bitcoin ETF positions and the addition of call options on the iShares Bitcoin Trust. Intesa also ventured into Ethereum for the first time through BlackRock's iShares Staked Ethereum Trust and picked up XRP exposure via the Grayscale XRP Trust, valued at around $26 million.

However, the bank simultaneously reduced its Solana position by nearly 99%, from 266,320 shares to just 2,817. This move suggests that Intesa made deliberate choices about which assets to hold, rather than a broad retreat from crypto exposure.

In addition to its crypto investments, the bank has also increased its stakes in BitGo and Coinbase on the equities side. The expansion of Intesa's crypto holdings is part of a broader trend among European banks, with several institutions launching retail crypto trading services or exploring stablecoin development.