Intesa Sanpaolo Dumps Bitcoin: Ethereum Gets the Upgrade
Italy's largest bank, Intesa Sanpaolo, slashed its stake in BlackRock's iShares Bitcoin Trust ETF by 94% during the second quarter of 2026, cutting its bitcoin ETF exposure to $69.
Intesa Sanpaolo Dumps Bitcoin: Ethereum Gets the Upgrade
Italy's largest bank, Intesa Sanpaolo, slashed its stake in BlackRock's iShares Bitcoin Trust ETF by 94% during the second quarter of 2026, cutting its bitcoin ETF exposure to $69.3 million as crypto prices fell, according to CoinDesk. The move was not a retreat from digital assets — it was a rotation. Simultaneously, the bank tripled its position in the iShares Staked Ethereum Trust ETF, a calculated pivot that tells you more about institutional sentiment toward the Clarity Act than any press release will.
The Clarity Act matters here. Bitcoin and ethereum markets are being watched by institutional desks specifically for signals on how the legislation will land — whether it classifies ethereum as a commodity or a security will determine whether positions like Intesa's are compliant, clever, or exposed. A bank of Intesa's size does not triple an ether position during a slump without a legal read that says the regulatory direction favours it.
Meanwhile, per CoinDesk, a live exploit against Coldcard hardware wallets has now produced roughly $114 million in losses, with specific models and firmware still vulnerable. The company is urging users to move funds immediately. That is not a patch situation — that is an evacuation order.
Two stories, one message: institutional money is repositioning around regulation, and self-custody infrastructure is not as cold as the name suggests. If you hold bitcoin on a Coldcard device, check the firmware version before you do anything else today.
