Intesa Sanpaolo, Italy’s biggest banking institution, significantly increased its cryptocurrency portfolio during the first quarter of 2026, raising its crypto assets from about $100 million to approximately $235 million. This substantial growth reflects a deeper commitment to digital assets, particularly Bitcoin, Ethereum, and Ripple’s XRP.
The bank expanded its Bitcoin exposure by adding to positions in the ARK 21Shares Bitcoin ETF and BlackRock’s iShares Bitcoin Trust ETF. For the first time, Intesa purchased Ethereum via BlackRock’s iShares Staked Ethereum Trust, marking its debut into the Ethereum market. Additionally, it acquired a fresh $26 million stake in Ripple’s XRP through the Grayscale XRP Trust ETF.
Intesa made its initial move into crypto derivatives by opening a new position in iShares Bitcoin Trust call options, a noteworthy step into more complex financial products within the digital asset space. The bank confirmed that these crypto holdings serve proprietary trading purposes, although it has not clarified whether any assets support hedging for professional client products.
While bolstering certain digital assets, Intesa sharply reduced its Solana holdings, nearly divesting entirely by cutting its Bitwise Solana Staking ETF shares from 266,320 to just 2,817. On the crypto equity front, Intesa added 165,600 shares in BitGo, closed its Bitmine position, ended put options on Strategy, and pared down its stake in Cantor Equity Partners II—a vehicle linked to tokenization firm Securitize’s upcoming listing. Coinbase shares held by the bank also rose significantly, from 1,500 to 10,357.
These strategic adjustments come as Intesa strengthens its relationship with the digital asset industry. Ripple recently announced plans to provide custody services to Intesa Sanpaolo, signaling closer cooperation between the bank and major players in the crypto custody market.
This growth in Italy’s leading bank parallels a broader trend among European financial institutions integrating cryptocurrencies. Spanish bank BBVA, French group BPCE, and Belgium’s KBC have all launched retail crypto trading services, meeting increasing client demand. BBVA notably offers 24/7 Bitcoin and Ether trading via its app, while BPCE enables crypto trades through its regulated subsidiary Hexarq, aiming to reach millions of customers by 2026.
At the infrastructure level, a consortium of European banks—including BNP Paribas, ING, UniCredit, and Deutsche Bank—created Qivalis, a project to issue a euro-backed and MiCA-compliant stablecoin expected to launch in the latter half of 2026. This initiative reflects the accelerating institutional embrace of crypto within Europe’s financial ecosystem.