Intesa Sanpaolo, Italy’s largest bank, increased its crypto-linked holdings to about $235 million in the first quarter of 2026, up from nearly $100 million at the end of 2025. Data published by Criptovaluta and shared by Wu Blockchain showed the bank expanded exposure tied to Bitcoin, Ethereum, and XRP by March 31, while trimming products linked to Solana.
Bitcoin allocations grew across several products
The filing showed a larger position in multiple Bitcoin investment vehicles during the quarter. Intesa raised its ARK 21Shares Bitcoin ETF holdings to 3,607,565 shares from 2,488,765 shares. Its stake in BlackRock’s iShares Bitcoin Trust also climbed, moving from 470,409 shares to 646,809 shares.
The bank also added call options tied to the iShares Bitcoin Trust, with total exposure reaching 2,496,500 shares by March 31. Smaller holdings in Grayscale Bitcoin Trust and Grayscale Bitcoin Mini Trust were left unchanged at 871 shares and 174 shares. The filing pointed to a more active trading approach around Bitcoin-linked products during the quarter.
New Ethereum and XRP exposure appeared in the filing
Outside Bitcoin, Intesa disclosed Ethereum exposure for the first time through BlackRock’s iShares Staked Ethereum Trust. As of March 31, the bank held 3,147,918 shares of that product. The change widened its digital asset allocation beyond Bitcoin-focused instruments.
It also opened a new Ripple-related position through Grayscale XRP Trust. According to the filing, Intesa held 712,319 shares valued at nearly $18 million. The report noted that the bank had previously said its crypto-linked holdings were connected to proprietary trading activity.
Solana exposure was cut while Coinbase shares rose
While Bitcoin, Ethereum, and XRP exposure increased, the bank sharply reduced its Solana position. Its holdings in the Bitwise Solana Staking ETF fell from 266,320 shares to just 2,817 shares during the quarter.
Another adjustment came in equities. Intesa increased its Coinbase holdings from 1,500 shares to 10,357 shares. Taken together, the filing showed a broad reshaping of the bank’s crypto-linked portfolio in Q1 2026, with heavier Bitcoin ETF exposure and new positions tied to Ethereum and XRP.