Italy’s Biggest Bank Just Doubled Down On Crypto
This is one of the clearest signals that banks are no longer just “watching” crypto from the outside.
Intesa Sanpaolo reportedly lifted its crypto holdings to around $235M in Q1:
1. Crypto exposure jumped from ~$100M → ~$235M
2. Bitcoin positions were increased through ARK 21Shares and BlackRock ETFs
3. $ETH exposure was added for the first time
4. XRP entered the portfolio through a Grayscale trust
5. The bank also opened its first Bitcoin options position
But here’s the interesting part… it nearly walked away from Solana.
Its Bitwise Solana Staking ETF position was cut from 266,320 shares to just 2,817 shares. That is not a small rebalance - that looks like a serious shift in preference.
That’s the part many $BTC traders should pay attention to. Institutions are not just buying “crypto” as one big basket anymore. They are choosing specific assets, products, and exposure types.
This feels like another step in crypto becoming normal inside traditional finance. Banks may still move slowly, but when they move, they usually move with a plan.