Ripple just lately introduced it could supply custody companies to Intesa Sanpaolo — a deal that raised eyebrows when the Italian financial institution’s first-quarter filings confirmed it had quietly purchased about $26 million price of crypto by the Grayscale XRP Belief ETF in the identical interval.
A Shift Towards Blue-Chip Crypto
Intesa Sanpaolo, Italy’s largest financial institution, grew its crypto holdings from roughly $100 million on the finish of 2025 to round $235 million by March 31, in keeping with a report by Italian crypto outlet Criptovaluta.it.
The growth was not a easy case of shopping for extra of the identical. The financial institution added Ethereum publicity for the primary time by BlackRock’s iShares Staked Ethereum Belief and constructed up its Bitcoin positions throughout two separate ETFs — the ARK 21Shares BTC ETF and BlackRock’s iShares Bitcoin Belief ETF. It additionally opened its first derivatives place within the house, taking a stake in iShares Bitcoin Belief name choices.
On the similar time, the financial institution pulled again sharply from Solana. Its holdings within the Bitwise Solana Staking ETF dropped from 266,320 shares to only 2,815 — a near-complete exit. The transfer indicators a choice for better-established digital property over higher-risk alternate options.
Fairness Strikes Spherical Out The Image
On the inventory facet, Intesa added 165,600 shares of BitGo and raised its Coinbase place from 1,500 to 10,357 shares. It closed out put choices on Technique and trimmed its stake in Cantor Fairness Companions II, a automobile tied to tokenization agency Securitize.
The financial institution additionally bought off its total Bitmine place. In response to reviews, Intesa has confirmed its crypto holdings are saved for proprietary buying and selling. Whether or not any of these property are used to again merchandise supplied to skilled purchasers has not been disclosed.
Shares of Intesa closed at 5.74 euros on Friday, down 1.50% on the day and off 3.14% for the yr, based mostly on information from Yahoo Finance.
Broader Shift Throughout European Banking
Intesa’s strikes match a wider sample throughout Europe. Spain’s BBVA now provides round the clock Bitcoin and Ether buying and selling by its cell app, making it the primary main Spanish financial institution to take action.
France’s BPCE launched in-app crypto buying and selling by a regulated subsidiary referred to as Hexarq, with plans to succeed in 12 million clients by 2026. Belgium’s KBC has additionally gone reside with retail crypto companies.
In the meantime, 12 main European banks — together with BNP Paribas, ING, UniCredit, and Deutsche Financial institution — have fashioned a consortium referred to as Qivalis.
Their objective is to problem a euro-backed stablecoin that complies with MiCA, Europe’s crypto regulatory framework, with a deliberate launch within the second half of 2026.
Featured picture from Intnews, chart from TradingView
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