Intesa Sanpaolo, Italy’s largest banking group, has disclosed a new XRP-linked position through more than 712,000 shares of Grayscale XRP Trust. The filing valued the stake at nearly $18 million as of March 31, and the holding is now estimated at close to $26 million based on current market prices.
The move sits inside a wider crypto allocation shift. The bank, which manages nearly $1.1 trillion in assets, also increased its exposure to Bitcoin ETFs and Ethereum-related products during the latest quarter. According to the reported figures, its overall crypto exposure rose from nearly $100 million to about $235 million at current valuations.
XRP trust purchase stands out in latest portfolio update
Criptovaluta.it reported that Intesa Sanpaolo opened the Grayscale XRP Trust position as part of a broader reshuffle in its digital-asset portfolio. The outlet described the change with a short summary: “Solana is out, Ripple and Bitcoin are in.” That matches the filing, which showed a sharp reduction in Solana-linked holdings compared with earlier disclosures.
Outside XRP, the bank raised its position in the ARK 21Shares Bitcoin ETF from 2.48 million shares to 3.60 million shares. It also added exposure to BlackRock’s iShares Bitcoin Trust ETF and entered BlackRock’s staked Ethereum ETF product, extending its reach across regulated crypto investment vehicles.
Direct Bitcoin purchase had already signaled a broader strategy
Earlier this year, Intesa Sanpaolo confirmed that it had directly purchased 11 Bitcoins for proprietary trading. At the time, that position carried an estimated value of around €1 million. The latest filing suggests the bank is using both direct purchases and listed investment products to build digital-asset exposure.
The quarter also brought changes in crypto-related equities. Intesa Sanpaolo added exposure to custody company BitGo while trimming positions tied to Bitmine and several other crypto-focused firms. The disclosure further showed continuing investments in Coinbase, BTCS, Ethzilla, and MercadoLibre.
Ripple custody deal drew fresh attention to the XRP allocation
The XRP position surfaced only weeks after Ripple said on April 15 that it would support Intesa Sanpaolo with digital asset custody services. That announcement drew attention to the bank’s ties to Ripple-linked infrastructure. The trust purchase has now added a portfolio dimension to that connection.
Intesa Sanpaolo has not publicly detailed the rationale behind each crypto-related investment. Still, the latest disclosure shows a larger tilt toward regulated products tied to XRP, Bitcoin, and Ethereum, while reducing exposure in other areas such as Solana-linked holdings.