# Intesa Sanpaolo Doubles Crypto Exposure to $235M

**Published:** 2026-05-17T00:00:00.000Z  
**Topic:** Crypto Options  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/af467102-f290-4b00-b72e-4b0d04f32ca5

Italy's largest bank, Intesa Sanpaolo, more than doubled its crypto exposure to $235 million in Q1 2026, adding Bitcoin, Ethereum, and XRP positions.

Intesa Sanpaolo, Italy’s largest bank, significantly expanded its digital asset portfolio in the first quarter of 2026, more than doubling its total crypto exposure to approximately $235 million [1]. This increase, up from roughly $100 million at the end of 2025, was driven by new positions in Bitcoin, Ethereum, and XRP, alongside a strategic reduction in Solana holdings [1]. Regulatory filings indicate the bank utilized exchange-traded funds (ETFs) to gain this exposure, marking a notable shift in its proprietary trading strategy [1][2].

**Key takeaways**
*   Intesa Sanpaolo increased its crypto exposure to about $235 million in Q1 2026, up from $100 million at year-end 2025 [1].
*   The bank added exposure to Bitcoin via Ark and BlackRock ETFs, entered Ethereum through a staked trust, and purchased roughly $26 million in XRP via the Grayscale XRP Trust [1].
*   For the first time, the bank entered the crypto derivatives market by acquiring call options on the iShares Bitcoin Trust [1].
*   Solana exposure was sharply reduced, while equity positions in Coinbase and BitGo were increased [1].
*   Ripple announced it would provide custody services to the Italian banking group, aligning with the bank's expanded digital asset activities [1].

## Diversified ETF portfolio drives growth

The bank’s expansion was primarily fueled by increased Bitcoin positions through the Ark 21Shares Bitcoin ETF and BlackRock’s iShares Bitcoin Trust ETF [1]. In a diversification move, Intesa entered the Ethereum market for the first time via BlackRock’s iShares Staked Ethereum Trust and added a stake in Ripple’s XRP through the Grayscale XRP Trust ETF, valued at approximately $26 million [1]. Additionally, the bank initiated its first foray into crypto derivatives by opening a position in iShares Bitcoin Trust call options [1]. The bank has previously confirmed to Criptovaluta.it that these holdings are for proprietary trading purposes, though it has not specified if any assets hedge client products [1].

## Strategic exits and equity shifts

While expanding into major cryptocurrencies, the bank recalibrated its risk profile

## Sources
1. Cryptobreaking — [Italy's largest bank doubles crypto holdings to $235M in Q1](https://www.cryptobreaking.com/italys-largest-bank-doubles-crypto/)
2. Theccpress — [Italy's Largest Bank Added Bitcoin, ETH, XRP Exposure in...](https://theccpress.com/italys-largest-bank-added-bitcoin-eth-xrp-exposure-q1-report/)
3. CoinTelegraph — [JPMorgan lifts Bitcoin ETF exposure in Q1, led by BlackRock’s IBIT](https://cointelegraph.com/news/jpmorgan-bitcoin-etf-buy-blackrock-ibit-q1-2026)

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Cite as: TrendWatcher, "Intesa Sanpaolo Doubles Crypto Exposure to $235M", https://www.trendwatcher.in/article/af467102-f290-4b00-b72e-4b0d04f32ca5