Intesa Sanpaolo Signals Institutional Shift With Major Bitcoin ETF Investments

Intesa Sanpaolo, Italy’s largest banking institution and one of Europe’s largest banks, declared approximately $96 million of Bitcoin ETFs as cash in a regulatory deposit.

Institutional adoption of digital assets is accelerating within the traditionally conservative European banking sector.

The bank’s Form 13F filed with the U.S. Securities and Exchange Commission (SEC), covering positions as of December 31, 2025, also reveals a sophisticated $184.6 million put option position on (Micro) Strategy held by Michael Saylor, the world’s largest corporate Bitcoin holder.

Is this type of investment akin to a “seal of approval”?

When a large entity like Intesa SanPaolo allocates capital, it validates Bitcoin as a legitimate investment asset class, and no longer simply as “magic internet money”.

This reflects the broader trend of institutional adoption, where major players are moving from skepticism to active participation.

Intesa Sanpaolo’s bet on Bitcoin ETFs includes a significant stake in the ARK 21Shares ETF and the iShares Bitcoin Trust

Intesa held approximately $96 million in spot Bitcoin ETF positions at the end of last year. This is not a simple test, but a significant commitment.

The allocation includes a significant stake in the ARK 21Shares ETF as well as substantial holdings in the iShares Bitcoin Trust, the product that generated the massive flows to the BlackRock IBIT.

Analysts note that these positions are likely customer-driven, meaning the bank is responding to demand from wealthy investors seeking exposure to digital assets.

Interestingly, the bank also bought “put options” on MicroStrategy stock

In simple terms, it’s a safety net. It allows him to make a profit if the share price falls, thus balancing his risk.

This is a classic institutional approach: participating in the rise while protecting against the fall.

This strategic accumulation is part of a broader market dynamic.

Discover how institutions strategically buy during pullbacks to strengthen their positions. This confirms that Bitcoin is becoming a standard component of modern portfolios, alongside stocks and bonds.

This development reflects how other large entities provide stability during market corrections, similar to how large funds secure assets during periods of volatility.

Intesa Sanpaolo bought 11 Bitcoin in 2025

Intesa SanPaolo also acquired 11 Bitcoin for approximately 1 million euros ($1.026 million) in 2025, becoming the first Italian bank to make a direct investment in digital assets, but 4chan revealed this first in a major leak.

The announcement came directly from a press release by Intesa Sanpaolo. The banking group was forced to speak out after an internal leak concerning the investment was published on the online forum 4chan.

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(Featured image by Kanchanara via Unsplash)

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