- Intesa Sanpaolo nearly tripled its Ethereum ETF holdings in the second quarter while cutting its BlackRock Bitcoin ETF position by 94%.
- The Italian bank continues to expand its crypto exposure, showing growing institutional interest in regulated digital asset investments.
Italy’s largest banking group, Intesa Sanpaolo, is increasing its Ethereum exposure while reducing part of its Bitcoin ETF investment. The bank’s latest portfolio changes show that institutional interest in crypto remains active, with financial firms adjusting their strategies as the market evolves.
Intesa Sanpaolo Expands Ethereum ETF Investment
According to a recent filing with the U.S. Securities and Exchange Commission (SEC), Intesa Sanpaolo nearly tripled its holdings in the iShares Staked Ethereum Trust ETF (ETHB) during the second quarter of 2026.
The bank held 349,600 ETHB shares as of June 30, valued at around $7.1 million. This marks a significant increase from the 116,200 shares worth approximately $3.15 million that Intesa held three months earlier.
The move highlights growing institutional interest in Ethereum products that provide exposure to staking rewards while operating within regulated investment structures.
Bank Reduces BlackRock Bitcoin ETF Position
While increasing its Ethereum ETF holdings, Intesa Sanpaolo sharply reduced its position in BlackRock’s iShares Bitcoin Trust (IBIT).
The bank cut its IBIT holdings from 646,809 shares to 40,723 shares, representing a reduction of about 94%.
However, the move does not mean Intesa is exiting Bitcoin investments. The bank still maintains a large Bitcoin ETF position through the ARK 21Shares Bitcoin ETF (ARKB).
Intesa reported holding 3.47 million ARKB shares valued at roughly $67.6 million, making it the bank’s largest crypto-related investment.
Intesa Continues Adjusting Its Crypto Portfolio
The SEC filing showed other changes across Intesa Sanpaolo’s crypto-related investments.
The bank kept its position in the Grayscale XRP Trust ETF (GXRP) unchanged at 712,319 shares. It also increased its stake in BitGo, raising its holdings to 323,000 shares.
Meanwhile, Intesa reduced its investment in Coinbase, reporting ownership of 7,000 shares.
These changes suggest the bank is reshaping its crypto portfolio rather than reducing its overall exposure to blockchain-related investments.
Why Institutions Prefer Crypto ETFs
Crypto ETFs have become a popular option for banks and traditional investors because they provide exposure to Bitcoin and Ethereum without requiring direct ownership.
Through ETFs, institutions can avoid challenges linked to private wallet management, security, and custody.
Regulated investment products also fit more easily into existing financial systems, making it easier for banks to participate in the crypto market.
Ethereum Gains More Institutional Attention
Intesa Sanpaolo’s latest move reflects a broader trend of financial institutions exploring Ethereum alongside Bitcoin.
Although Bitcoin remains a major part of the bank’s crypto portfolio, the increased Ethereum ETF allocation shows that institutions are looking beyond Bitcoin-only strategies.
The shift also highlights how banks continue to adapt their crypto investments based on market conditions, opportunities, and changing investor demand.
Disclaimer:
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry risk, and readers should conduct their own research before making any investment decisions.