Intesa Sanpaolo invests $18M in XRP as Ethereum Institutional nonprofit launches

Italian bank Intesa Sanpaolo announced an $18 million purchase of XRP, signaling continued institutional interest in the cryptocurrency despite recent price weakness. At the time of the filing, XRP was trading near $1.10 and had recently faced resistance levels while analysts trimmed price targets.

On July 1, the nonprofit Ethereum Institutional was created, funded by Ethereum co‑founder Joe Lubin and listed treasury firms. The group aims to provide a neutral platform for banks and asset managers. Its launch coincided with a rebound in ETH, pushing the token above $1,700 and attracting fresh inflows into spot ETH ETFs after a period of outflows. The market cited the nonprofit’s backing and positive U.S. monetary‑policy signals as catalysts for renewed investor confidence.

Both developments highlight a broader trend of increasing institutional participation in major crypto assets, even as regulatory scrutiny and market volatility persist.