Italy’s biggest bank, Intesa Sanpaolo, has sharply increased exposure to Bitcoin-linked investment products, with its total crypto-related holdings exceeding $200 million as of the first quarter of 2026. 

New filings show the bank also made major bets on a few U.S. spot Bitcoin ETFs and on its options position tied to BlackRock’s iShares Bitcoin Trust. 

The move signals increasing trust from traditional banks in a regulated set of crypto investment products, even while digital asset markets have been volatile. 

The most recent 13F filings prepared in the U.S. indicate that Intesa Sanpaolo increased its stake in the ARK Invest and 21Shares Bitcoin ETF to roughly $81.17 million, up from $72.6 million in the previous quarter. So…