Intesa Sanpaolo’s Crypto Party: Bitcoin, XRP, and Solana’s Great Exodus

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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 roughly $100 million at the end of 2025 to about $235 million by the end of March, a jump as dramatic as a Vogon announcing poetry readings to unsuspecting Flatlanders.

This increase was largely the result of beefing up Bitcoin ETF holdings. Intesa padded its portfolio with additional shares in the ARK 21Shares Bitcoin ETF and the BlackRock iShares Bitcoin Trust, following earlier rumours that it was already holding close to $100 million in Bitcoin exposure.

Ethereum and XRP enter the mix

New to the scene, Intesa gained Ethereum exposure for the first time with BlackRock’s iShares Staked Ethereum Trust, thereby expanding its reach beyond the old familiar territories of Bitcoin and Solana. 

In an equally grand move, the bank added XRP exposure via the Grayscale XRP Trust, a rumoured $26 million investment that may or may not be used to purchase actual pizza-no guarantees.

At the same time, Intesa almost foiled Solana, trimming its Bitwise Solana Staking ETF stake from 266,320 shares to barely 2,817, effectively giving Solana a polite but decisive „We’re not interested‑anymore“ note.

European banks keep moving into crypto

Intesa’s latest filing builds on an earlier surge in 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, half‑sincerely, called the move “a test” and insisted, “We won’t become a bitcoin player.”

Intesa also has a link to the world of custody infrastructure, having previously worked with Ripple Custody (formerly Metaco) for tokenised asset custody. The bank’s crypto ambitions are expanding like the know‑how of a Turing‑era space‑ship in a universe full of hitchhikers.

Meanwhile, other European banks are joining the crypto fray. A 12‑bank consortium led by Qivalis selected Fireblocks to support a MiCA‑compliant euro stablecoin slated for launch in the second half of 2026-because who doesn’t want to bend the laws of economics with a little quantum nonsense?

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2026-05-17 13:11