Intesa Sanpaolo has significantly reduced its exposure to Solana, slashing its holdings in the Bitwise Solana Staking ETF from 266,320 shares to just 2,817. This move comes alongside a broader adjustment in its cryptocurrency stock portfolio, where the bank initiated a position in BitGo with 165,600 shares and exited its stake in Bitmine. Notably, Intesa also increased its holdings in Coinbase, raising its shares from 1,500 to 10,357.
These strategic shifts reflect Intesa’s evolving stance in the digital asset space as it strengthens partnerships, such as Ripple’s recent custody service offering. The bank’s shares closed at €5.74, down 1.56% for the day and 3.14% year-to-date, indicating some investor caution amid these transitions.
The broader trend among European banks, with institutions like BBVA and BPCE launching crypto trading services, suggests a growing acceptance of digital assets. Market professionals should monitor how these developments could influence institutional investment strategies and regulatory frameworks in the region.
Source: cointelegraph.com