Intesa Sanpaolo, Italy’s largest financial institution, greater than doubled its crypto publicity within the first quarter of 2026, with holdings climbing from roughly $100 million on the finish of 2025 to round $235 million as of March 31.
The expansion was pushed by expanded Bitcoin positions, with the financial institution including to positions in each the ARK 21Shares BTC ETF and BlackRock’s iShares Bitcoin Belief ETF. It additionally entered Ethereum for the primary time by way of BlackRock’s iShares Staked Ethereum Belief, and picked up a contemporary stake in Ripple’s XRP by way of the Grayscale XRP Belief ETF, price roughly $26 million, in accordance with a report by native crypto outlet Criptovaluta.it.
Intesa additionally opened a brand new place in iShares Bitcoin Belief name choices, its first derivatives play within the area. The financial institution beforehand confirmed to Criptovaluta.it that its crypto positions are held for proprietary buying and selling functions, although it has not disclosed whether or not any of the property are additionally used to hedge merchandise provided to skilled purchasers, the report stated.
Supply: Criptovaluta.it
Alternatively, the financial institution lowered its Solana holdings, which had featured prominently within the prior quarter. Its place within the Bitwise Solana Staking ETF slashed from 266,320 shares to simply 2,817, a near-total exit.
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Intesa provides BitGo, dumps Bitmine
On the equities facet, the financial institution made a number of changes to its crypto inventory holdings. It added 165,600 shares of BitGo for the primary time, whereas dumping the Bitmine place. The financial institution additionally closed out its put choices on Technique and trimmed its stake in Cantor Fairness Companions II, the car by way of which tokenization agency Securitize is ready to checklist. Coinbase shares additionally elevated from 1,500 to 10,357.
The strikes come as Intesa deepens its ties to the digital asset sector. Final month, Ripple introduced it could provide its custody providers to the Italian banking group.
Intesa shares closed at 5.74 euros on Friday, down 1.56% on the day and off 3.14% year-to-date, in accordance with Yahoo! Finance.
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European banks broaden crypto choices
Extra European banks are transferring into crypto, with Spain’s BBVA, France’s BPCE and Belgium’s KBC amongst these already dwell with retail buying and selling providers. BBVA turned the primary main Spanish financial institution to supply 24/7 Bitcoin and Ether buying and selling by way of its cellular app, whereas BPCE launched in-app crypto buying and selling by way of regulated subsidiary Hexarq, focusing on 12 million clients by 2026.
On the infrastructure stage, a consortium of 12 main European banks, together with BNP Paribas, ING, UniCredit and Deutsche Financial institution, shaped Qivalis to difficulty a MiCA-compliant euro-backed stablecoin, focusing on a launch within the second half of 2026.
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