Intesa Sanpaolo's Billion-Dollar SpaceX Stake and Crypto Portfolio Shifts

By EC Assets · Published 17 August 2026

Italy’s Intesa Sanpaolo held a stake in SpaceX worth almost $1 billion during the second quarter. The financial institution also adjusted its cryptocurrency, related holdings in the same period. Intesa Sanpaolo increased its position in staked Ether exchange, traded funds while simultaneously reducing its exposure to spot Bitcoin ETFs. Intesa Sanpaolo boosted its iShares Staked Ethereum Trust ETF (ETHB) stake. This holding tripled to 349,600 shares. The value of its staked Ether ETF position rose to $7.1 million. This increase occurred even as crypto prices declined. Conversely, the bank reduced its holdings in two spot Bitcoin ETFs. Its long bitcoin ETF holdings fell by 35% in value. This decrease brought the value to $69.3 million. Intesa Sanpaolo specifically slashed its IBIT stake by 94% in the second quarter. The Italian bank is also involved in other market activities. Italy is considering options for its remaining stake in Banca Monte dei Paschi di Siena SpA. These options include a full divestment. Such a move would formally conclude Rome’s involvement in the lender. Banca Monte dei Paschi di Siena is facing a takeover. Separately, Intesa Sanpaolo previously reopened a deadline for thousands of customers. This deadline allowed clients to opt out of switching to its digital services. This article is intended for informational purposes only. It does not constitute investment advice.