Intesa Sanpaolo Lifts Q1 Crypto Exposure to $235M, Initiates Ethereum and XRP Positions

Italy's largest bank, Intesa Sanpaolo, boosted its crypto-asset holdings to about $235 million in the first quarter of 2026, up from roughly $100 million at the end of 2025, Odaily Planet Daily reported. The bank increased exposure to the ARK 21Shares Bitcoin ETF and BlackRock's iShares Bitcoin Trust (IBIT). It also made its first allocation to Ethereum via BlackRock's iShares Staked Ethereum Trust, and added around $26 million in the Grayscale XRP Trust ETF. Intesa also opened its first bullish position in IBIT options, bought 165,600 shares of BitGo stock, and exited all Bitmine-related positions. Its Solana exposure was sharply cut, with holdings of the Bitwise Solana Staking ETF reduced from 266,300 shares to 2,817. The bank has previously said the crypto positions are mainly for proprietary trading. Ripple said last month it would provide digital-asset custody services for Intesa Sanpaolo. (Cointelegraph)