Italy’s largest bank discloses huge XRP exposure through Grayscale’s trust
Italy's largest bank disclosed an $18M XRP exposure through Grayscale's trust, highlighting how institutions are entering crypto markets.
Intesa Sanpaolo, Italy’s largest banking group, has disclosed an $18 million exposure to XRP through the Grayscale XRP Trust, underscoring how traditional financial institutions are gaining access to digital assets through regulated investment products.
The disclosure provides a clearer picture of how banks are approaching crypto investments without directly holding cryptocurrencies.
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Intesa adds XRP through Grayscale Trust
The bank did not purchase native XRP tokens. Instead, it acquired shares in the Grayscale XRP Trust, an investment vehicle that holds XRP on behalf of investors.
This structure allows Intesa Sanpaolo to gain exposure to XRP without managing private keys or operating crypto wallets. It also enables the investment to fit within existing custody, compliance, accounting, and risk management processes used by regulated financial institutions.
While $18 million is a modest allocation for one of Europe’s largest banks, the disclosure is notable because it shows the method a major lender has chosen to access the XRP market.
The latest portfolio update, which was first revealed in May, also revealed that Intesa increased its Bitcoin exposure, established a new position in Ethereum, introduced XRP through the Grayscale trust, and significantly reduced its Solana holdings.
Banks continue to favour regulated investment structures
Intesa Sanpaolo’s approach reflects a broader trend among traditional financial institutions, which are increasingly using regulated products such as trusts to gain crypto exposure instead of directly purchasing digital assets.
Investment vehicles like the Grayscale XRP Trust eliminate many of the operational challenges associated with direct cryptocurrency ownership, including wallet management and private key security. They also integrate more easily into the legal and governance frameworks already used by banks.
Separately, Intesa has adopted Ripple Custody, formerly known as Metaco, as part of its digital asset custody infrastructure. However, the custody platform is separate from the bank’s XRP investment, which was made through the Grayscale trust rather than through direct ownership of the cryptocurrency.
The disclosure highlights how institutional participation in digital assets, and especially in XRP, continues to grow through regulated financial products that allow banks to expand their exposure while remaining within established compliance and operational frameworks.
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