Intesa Sanpaolo Doubles Crypto Holdings to $235M, Initiates BitGo Stake
BTGO•Intesa Sanpaolo’s crypto portfolio more than doubled in Q1, rising from $100 million to $235 million led by larger Bitcoin ETF and a $26 million XRP trust position. The bank also initiated a BitGo equity stake alongside new ether exposure and expanded its Coinbase holdings to 10,357 shares.
1. Crypto Portfolio Nearly Doubled in Q1
Intesa Sanpaolo’s crypto-related holdings grew to $235 million at March 31 from $100 million at end-2025, driven by increased positions in ARK 21Shares Bitcoin ETF and BlackRock’s iShares Bitcoin Trust. This surge underscores a strategic commitment to ETF-based bitcoin allocation within its listed products.
2. Intesa Initiates BitGo Equity Stake
For the first time, Intesa added BitGo shares to its crypto-linked equity book while boosting its Coinbase position to 10,357 shares and exiting its Bitmine stake. These moves highlight a shift toward infrastructure and service providers in its digital asset strategy.
3. Shifts in Token Exposures and Derivatives
The bank introduced ether exposure via BlackRock’s iShares Staked Ethereum Trust and opened a $26 million XRP position through the Grayscale XRP Trust. It also slashed its Solana ETF from 266,320 shares to just 2,817 and added call options on BlackRock’s bitcoin ETF to layer derivatives onto its bitcoin holdings.
