From Investing.com

January 14, 2025 05:02 AM:

Italy’s largest banking group, Intesa Sanpaolo, bought 11 Bitcoin in a spot transaction worth approximately 1 million euros ($1 million). The purchase marks the bank’s deeper entry into the cryptocurrency market, following the establishment of a proprietary crypto trading desk in 2023.

The acquisition was made on Monday, confirmed by the head of digital asset trading at Intesa. The bank’s crypto desk had previously received necessary approvals and set up technical systems for spot purchases, expanding beyond trading crypto options, futures, and ETFs.

Intesa Sanpaolo’s move into Bitcoin comes as other financial firms are also ramping up their crypto operations. The bank’s venture into cryptocurrencies signals a growing trend among traditional financial institutions embracing digital assets for investment and trading purposes.

Read more at Investing.com: Intesa Sanpaolo makes first spot Bitcoin purchase By Investing.com