Intesa Sanpaolo Discloses $96 Million Bitcoin ETF Exposure in SEC Filing

Last updated on March 8th, 2026 at 02:54 pm

Intesa Sanpaolo, Italy’s largest banking group, has disclosed a substantial $96 million investment in spot Bitcoin exchange-traded funds (ETFs) according to its latest 13F filing with the United States Securities and Exchange Commission (SEC).

The filing, which details holdings as of December 31, 2025, reveals that the bank has moved beyond its initial experimental phase with digital assets to establish a multi-layered position in the cryptocurrency market.

“🚨 Italy’s largest bank Intesa Sanpaolo just disclosed ~$100M in Bitcoin ETFs via 13F filing!
Biggest chunk: $72.6M in ARK 21Shares (ARKB)
•$23.4M in BlackRock’s IBIT⁰Even $4.3M in Bitwise Solana ETF
Plus a smart MSTR put hedge.
European institutions are stacking BTC pic.twitter.com/4m7ogSceR5
— Blockmorph (@calzelunghe221) February 18, 2026

Institutional adoption grows through regulated products

The bank’s crypto portfolio is led by a $72.6 million allocation to the ARK 21Shares Bitcoin ETF and a $23.4 million stake in the iShares Bitcoin Trust. This $96 million combined exposure represents a landmark entry for the Italian banking sector into regulated cryptocurrency instruments. Unlike direct asset purchases, these spot ETFs allow the bank to manage crypto exposure within traditional custodial and reporting frameworks.

Strategic diversification across the Web3 ecosystem

The bank’s digital asset strategy extends well beyond Bitcoin. The disclosure includes a $4.3 million position in the Bitwise Solana Staking ETF, providing exposure to network rewards on the Solana blockchain. Additionally, Intesa reported a $4.4 million equity stake in Circle, the issuer of the USDC stablecoin, alongside minor holdings in crypto-native platforms like Coinbase and Robinhood.

Meanwhile, Spot Bitcoin Exchange-Traded Funds (ETFs) are facing their longest period of net outflows in nearly a year, poised for a fifth consecutive week of withdrawals if the trend continues through Friday.

Data from SoSoValue indicates that investors have pulled funds from these spot Bitcoin ETFs for four straight weeks, with weekly outflows totaling $1.3 billion, $1.5 billion, $318 million, and $360 million, respectively.

This sustained selling pressure is occurring while Bitcoin is trading around $69,000, a significant drop from its October high of $126,000. The last time the ETFs experienced such an extended run of withdrawals, Bitcoin’s price was substantially higher, near $82,000.

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