UniCredit Launches Bitcoin ETF Certificate for Professional Investors

UniCredit SpA, Italy’s second-largest bank, has introduced a new financial product that allows professional investors to gain exposure to Bitcoin through a regulated structure. Starting July 1, UniCredit will offer a five-year investment certificate tied to the performance of the BlackRock iShares Bitcoin Trust ETF (IBIT). The offering is limited to professional clients in Italy and will be available until July 28.

This marks a significant step in the integration of digital assets into traditional banking in Europe. By linking the certificate to IBIT, a U.S.-listed spot Bitcoin ETF managed by BlackRock, UniCredit is providing a relatively safer and more accessible way for institutional investors to explore the crypto market without directly holding Bitcoin.

The new Bitcoin ETF investment certificate offers a bridge between traditional finance and the digital asset space. It caters specifically to professional clients who are looking for indirect exposure to Bitcoin’s potential without navigating the complexities of wallets, exchanges, or custody. This approach also benefits from regulatory oversight and risk management tools that many traditional investors seek. Since the certificate is tied to an ETF traded in U.S. markets and managed by BlackRock, it combines the innovation of crypto with the security of institutional finance.

UniCredit’s move aligns with a broader trend of banks and financial institutions entering the crypto space through structured products. This helps meet increasing demand for digital asset exposure while maintaining compliance with European financial regulations. By launching this certificate, UniCredit joins the ranks of global institutions that see long-term potential in crypto-linked investment vehicles, particularly those that are ETF-based and professionally managed.

UniCredit, a prominent European bank, has introduced a structured investment product linked to BlackRock's iShares Bitcoin Trust ETF (IBIT). This five-year, capital-protected investment certificate is denominated in U.S. dollars and offers full capital protection at maturity. The returns on this product are capped at 85% of the ETF’s performance, providing a balanced approach to investing in Bitcoin without direct ownership or wallet infrastructure. The minimum investment required is $25,000, and the offering is available to professional clients in Italy from July 1 to July 28.

The launch of this product is significant as it represents one of the first instances of a major eurozone bank packaging exposure to a U.S.-based spot Bitcoin ETF for local clients. This move comes at a time when European regulators have yet to approve their own spot Bitcoin ETFs, making structured certificates tied to foreign ETFs a viable workaround. The product's structure, which includes capital protection with capped upside, reflects a cautious approach to meeting the growing demand for digital asset exposure within a regulated product framework.

Chicco di Stasi, head of Group Investment Product Solutions and Equity & Credit Sales and Trading at UniCredit, highlighted the increasing interest from professional investors in instruments tied to emerging asset classes such as cryptocurrencies. He noted that this product offers a distinctive solution for professional clients in Italy, marking the first of its kind in the region. The product's design aligns with current EU restrictions on spot Bitcoin ETFs, allowing banks to structure exposure without relying on unapproved local crypto products.

The launch of this investment certificate by UniCredit is part of a broader trend among European banks exploring crypto-linked services. Other institutions have also shown interest in digital asset services, further indicating a measured shift towards offering wrapped or hybrid products before committing to full-scale crypto offerings. This cautious approach is particularly relevant in uncertain regulatory environments, where traditional institutions are more likely to engage with digital asset demand through structured products.

The UniCredit certificate not only provides a regulated pathway for investors to gain exposure to Bitcoin but also signals an effort to normalize crypto within traditional finance. By offering capital protection, the product appeals to risk-averse investors while still engaging with the growing interest in digital assets. This launch underscores the evolving landscape of financial products, where banks are increasingly adopting ETF-linked strategies to meet client demand for Bitcoin without direct ownership or wallet infrastructure.