Intesa Sanpaolo Bets USD100 Million on Bitcoin and ETFs

(Alliance News) - Intesa Sanpaolo has invested over USD100 million in cryptocurrencies, with a focus primarily on Bitcoin, according to La Repubblica on Thursday.

The data, contained in documents filed with the SEC and referring to the end of 2025, precede the recent downturns that brought Bitcoin back to USD67,000.

Specifically, the newspaper reports that the bank has allocated USD96.1 million in Bitcoin-linked ETFs – particularly Ark 21Shares Bitcoin ETF and iShares Bitcoin Trust ETF – as well as about USD4.4 million in a Solana ETF.

Among its positions is also a put option with an underlying value of USD184.6 million on Strategy, a company highly correlated with Bitcoin's performance, and a USD4.4 million stake in Circle Internet Group, a platform active in digital currencies.

As Repubblica explains, the group led by Carlo Messina has long established a small desk dedicated to digital assets and is reportedly testing the possible launch of a product, such as an ETF, on cryptocurrencies. UniCredit already offers professional clients a certificate linked to the iShares Bitcoin Trust.

Major Italian groups are nonetheless proceeding with caution, amid Bitcoin's volatility and the skepticism of Bankitalia and Consob, which continue to highlight the risks in the sector.

By Claudia Cavaliere, Alliance News reporter

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