Key Takeaways
- Intesa acquires XRP ETF, expands its cryptocurrency ETF holdings to 37.3 billion yen
- While concentrating funds on BTC and XRP, Solana ETF holdings have significantly reduced in size
Intesa Doubles Crypto Holdings with XRP ETF Purchase
Intesa Sanpaolo, a major Italian bank, has invested about $26 million (approximately 4.13 billion yen) in Grayscale’s XRP ETF, according to a report by local Italian media Criptovaluta.it.
Intesa’s overall exposure to crypto ETFs reached about $235 million (approximately 37.32 billion yen), more than doubling in the first quarter of 2026 from approximately $100 million (about 15.8 billion yen) at the end of the previous quarter.
While incorporating new XRP ETFs, Solana (SOL)-related ETF holdings have been significantly lessened, leading to a greater concentration of funds across the portfolio in key stocks.
The concurrent review of the size and composition of crypto ETFs by big European banks in a short period of time has sparked market attention as a trend that signals a transition in the digital asset allocation strategies of institutional investors.
New XRP Purchase, Price Rise Increases Valuation
In Q4 of 2025, Intesa launched a cryptocurrency investment of about $100 million through Bitcoin (BTC), Ethereum (ETH), and Solana-related ETFs.
The holdings at the end of Q1 of 2026 (as of March 31), which have just been reported, have confirmed significant changes in ETF composition and fund allocation.
The most dramatic change was the new entry into the “Grayscale XRP Trust ETF”, for which the bank acquired 712,319 shares, with a valuation of approximately $18 million (approximately 2.86 billion yen) as of March 31, 2026.
Following the XRP price rise since the end of March, its current valuation has expanded to approximately $26 million.
