Intesa Q1 institutional crypto holdings jump: boosts BTC/ETH ETFs, exits most SOL
Intesa Sanpaolo’s institutional crypto holdings jumped in Q1, rising from about $100M at end-2025 to around $235M by March 31, based on filings cited by Criptovaluta.it. The bank increased institutional crypto holdings primarily through larger allocations to Bitcoin ETF-linked products, including ARK 21Shares Bitcoin ETF and BlackRock iShares Bitcoin Trust. It also added first-time Ethereum exposure via BlackRock’s iShares Staked Ethereum Trust and opened a derivatives position using iShares Bitcoin Trust call options.
At the same time, Intesa materially reduced Solana exposure. Bitwise Solana Staking ETF holdings fell from 266,320 shares to roughly 2,815—effectively a near-exit. For traders, this institutional crypto holdings expansion is likely supportive for BTC and ETH sentiment, while the Solana cut may pressure near-term SOL-related flows. Broader Europe echoed the trend with more in-app bank crypto trading and progress on a MiCA-compliant euro-backed stablecoin plan for H2 2026.
Neutral
Intesa’s institutional crypto holdings growth is bullish for BTC and ETH sentiment because the bank expanded ETF-linked Bitcoin exposure and added first-time ETH exposure via a staked Ethereum trust. However, the near-exit from Solana exposure (Bitwise Solana Staking ETF holdings sharply reduced) is a direct negative for SOL-specific flows. Since the news is mixed across the mentioned assets—positive for BTC/ETH and negative for SOL—the overall expected price impact across the set is best described as neutral.