Italy’s largest bank, Intesa Sanpaolo, sharply increased its investments in products tied to Bitcoin, Ether and XRP.
Its crypto-related investments rose from about $100 million to about $235 million, while it expanded its Bitcoin holdings and gained Ether exposure through purchases of BlackRock’s ETHA.
Intesa Sanpaolo also added a new stake in the Grayscale XRP Trust while sharply reducing its position in the Bitwise Solana Staking ETF.
Forecast Trend Report by Period
See more mid- to long-term trend analysis
Photo: Wu Blockchain X capture
Intesa Sanpaolo, Italy’s largest bank, sharply increased its investments in products tied to Bitcoin (BTC), Ether (ETH) and XRP in the first quarter.
On May 16, Wu Blockchain, citing data from Criptovaluta, reported that Intesa Sanpaolo’s crypto-related investments rose to about $235 million in the first quarter from about $100 million in the fourth quarter of last year. As of the end of March, the bank had increased its Bitcoin holdings and gained Ether exposure for the first time through purchases of BlackRock’s ETHA.
Intesa Sanpaolo also initiated XRP-related investments. The bank held 712,319 shares of the Grayscale XRP Trust, with the stake valued at about $18 million.
By contrast, it reduced its Solana (SOL)-related investment. Intesa Sanpaolo sharply cut its position in the Bitwise Solana Staking ETF.