TLDR
- UniCredit Launches Italy’s First Capital-Protected Bitcoin Certificate Tied to IBIT.
- Bitcoin Exposure, No Risk: UniCredit Offers 5-Year Structured IBIT Investment.
- UniCredit Bridges Traditional Finance and Crypto With Dollar-Denominated IBIT Certificate.
- UniCredit’s IBIT Product Offers 85% Max Gains, Full Capital Safety for Pros.
- European Banks Warm to Bitcoin—UniCredit Leads With Regulated, Risk-Free Access.
UniCredit has introduced a structured certificate linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT) for professional clients in Italy. The product offers full capital protection at maturity and runs for five years, starting July 1. It marks Italy’s first Bitcoin-backed certificate issued by a major financial institution.
Capital-Protected Bitcoin Exposure
The UniCredit certificate links directly to the performance of IBIT, BlackRock’s spot Bitcoin ETF with over $75 billion in assets. This product allows clients to access Bitcoin market gains and protect their principal investment. The maximum return is capped at 85% of IBIT’s performance over five years.
JUST IN: 🇮🇹 Italian banking giant UniCredit to offer European clients access to BlackRock's Bitcoin ETF in a newly structured product – Bloomberg
😘🤌
— Bitcoin Archive (@BTC_Archive) July 1, 2025
The certificate requires a minimum entry of $25,000, reducing local currency risk for international strategies. It provides an opportunity for traditional finance clients to allocate to Bitcoin-linked products without dealing with crypto custody. Access to IBIT through this structure lowers entry barriers in a regulated environment.
UniCredit offers this certificate exclusively between July 1 and July 28 to professional clients registered in Italy. This limited window underlines the bank’s structured approach to product distribution. The firm aims to monitor demand during this period and assess future issuance.
Context Behind UniCredit’s IBIT Certificate
BlackRock launched IBIT in January 2024 as one of the first approved spot Bitcoin ETFs in the US. IBIT has become the dominant product in the space, drawing institutional flows and consistent daily trading volume. European demand for regulated Bitcoin instruments has grown as asset managers seek alternatives to direct crypto buying.
In March 2024, BlackRock expanded its reach by listing a separate Bitcoin exchange-traded product on Euronext Paris and Germany’s Xetra. UniCredit’s product brings a similar offering to Italy but with a capital-guaranteed structure. The protective format is designed to suit regulated finance operations.
UniCredit positions this new certificate as a bridge between digital assets and traditional financial products. Although not available to the retail market, it creates new momentum within the European banking sector.
European Banks Show Rising Activity in Bitcoin Products
Intesa Sanpaolo made its first direct Bitcoin market entry in January 2025, showing a shift in its portfolio direction. The bank currently runs a digital asset trading desk and plans further expansion into crypto-linked services.
Banco Santander is exploring early-stage digital asset services, including a stablecoin and crypto access via its digital bank. Though these efforts target retail clients, the underlying infrastructure supports broader adoption. Across Europe, banks are finding new ways to offer digital exposure without compromising compliance.
UniCredit taps into the most established ETF in the crypto space and sidesteps operational challenges. The move may encourage similar offerings by other European institutions. Structured solutions like UniCredit’s may become the model for banks entering this market.
