Italy's Largest Bank Reports $235M in Q1 Crypto Holdings, Adds Ethereum and XRP

Italy’s largest bank disclosed $235 million in crypto holdings for Q1 via a 13F-HR SEC filing, and for the first time added Ethereum and XRP to its balance sheet. The nine-figure allocation and the decision to broaden beyond a single asset signal growing institutional acceptance and due-diligence clearance for multiple digital assets. Market impact: the bank’s ETH inclusion supports the narrative of Ethereum as an institutional-grade asset for DeFi and tokenized services, while XRP’s addition reinforces its payments/use-case angle for banks and cross-border settlement. The filing may encourage further institutional diversification and could influence demand and sentiment for ETH and XRP amid ongoing regulatory scrutiny.