Intesa Sanpaolo Crypto Portfolio Jumps to $235M as BTC ETFs Rise
Intesa Sanpaolo crypto portfolio climbed to about $235M by March 31, 2026, up from ~$100M at end-2025. The growth was driven mainly by Bitcoin-linked ETFs, with higher allocations to the ARK 21Shares Bitcoin ETF and BlackRock iShares Bitcoin Trust. Intesa Sanpaolo crypto portfolio also made its first move into crypto derivatives via a call option on the iShares Bitcoin Trust.
Beyond BTC, the bank added regulated exposure to ETH through BlackRock’s iShares Staked Ethereum Trust, and opened an estimated ~$26M position in XRP via Grayscale’s XRP Trust. It sharply reduced Solana exposure, nearly exiting SOL by cutting Bitwise Solana Staking ETF shares from 266,320 to 2,817 during the quarter.
For traders, this reinforces the “regulated access” narrative for majors: institutional flows remain strongest toward BTC and ETH, while risk appetite appears more selective as SOL is rotated out. Intesa Sanpaolo crypto portfolio growth also supports the medium-term ETF demand storyline, though the impact is likely more pronounced for BTC/ETH than for SOL.
Bullish
The latest update shows continued institutional reallocation toward regulated Bitcoin exposure, including larger holdings in major BTC ETFs and the addition of a call option—signals that can sustain incremental demand narratives for BTC. Meanwhile, the bank’s sharp reduction of SOL exposure suggests relative weakness or rotation away from SOL, which may limit upside for SOL specifically. Net-net, for the price action of the major coins highlighted (BTC first, ETH second), the setup is more supportive than negative, keeping the overall bias bullish while SOL faces headwinds.