Intesa Sanpaolo, Italy's biggest bank, grew its crypto stash from $100 million to $235 million during the first quarter of 2026. The move marks a significant bet on digital assets by a major traditional lender — and it came with some notable portfolio shuffles.
The $135 million bump
The bank's crypto holdings more than doubled in three months. According to its Q1 disclosures, Intesa Sanpaolo made its first-ever purchases of Ethereum and XRP, signaling a broader appetite beyond its earlier positions. The exact split among assets wasn't detailed, but the overall increase is one of the largest single-quarter jumps reported by a European bank so far this year.
Ethereum and XRP join the mix
Both Ethereum and XRP are new additions to the bank's balance sheet. For a lender that had previously focused on bitcoin — and, to a lesser extent, Solana — the expansion into two more networks suggests a strategic shift toward a multi-asset crypto treasury. XRP's inclusion is particularly notable given its ongoing legal history in the U.S., though the bank didn't comment on its rationale.
Solana gets the axe
Not everything got a green light. Intesa Sanpaolo nearly exited its entire Solana position during Q1, trimming it down to a negligible amount. The timing isn't clear, but the sale coincided with a broader market rally — meaning the bank likely took profits or decided the risk-reward no longer fit. Either way, Solana is now a footnote in the portfolio.
Intesa Sanpaolo's Q1 moves signal growing institutional appetite for a wider range of crypto assets, even as it rebalances away from positions it no longer favors. The bank hasn't outlined plans for Q2, but the size of the increase suggests digital assets are becoming a permanent fixture on its books.
