Catenaa, Friday, July 11, 2025-UniCredit unveiled a capital-protected structured product linked to BlackRock’s iShares Bitcoin Trust ETF, targeting professional investors in Italy.
The offering runs from July 1 to July 28 and promises full capital protection at maturity, with returns capped at 85% of the ETF’s performance.
The five-year certificate, denominated in U.S. dollars, requires a minimum investment of $25,000, according to a memo reviewed by Bloomberg and confirmed by UniCredit.
It represents one of the first eurozone bank products providing indirect exposure to a U.S.-based spot Bitcoin ETF, circumventing the lack of local European approvals for such ETFs.
UniCredit’s product addresses growing interest in cryptocurrency-linked investments while mitigating volatility risks. Chicco di Stasi, head of Group Investment Product Solutions at UniCredit, said the product offers a “distinctive solution” for professional clients seeking regulated crypto exposure.
European regulators have yet to greenlight local spot Bitcoin ETFs, prompting banks like UniCredit to develop structured certificates as a regulatory workaround. Other banks, including Intesa Sanpaolo and Banco Santander, are also exploring crypto-related services and trading desks.
The move signals cautious but growing crypto integration within traditional finance, combining investor protection with digital asset demand. Structured products linked to established ETFs allow banks to engage clients while avoiding direct cryptocurrency ownership or custody.
