UniCredit Launches Certificate Linked to Bitcoin ETF

Italian bank UniCredit SpA has launched a new structured investment certificate reserved for professional clients.

This instrument allows them to access BlackRock's iShares Bitcoin Trust ETF (IBIT), while guaranteeing full capital protection at investment maturity.

The First Structured Product On Bitcoin In Italy

From 1 July to 28 July it will be possible to purchase a five-year dollar certificate with a minimum investment of $25,000. The certificate is intended exclusively for professional investors in Italy and guarantees the return of 100 per cent of the invested capital at maturity, regardless of market performance.

The certificate is linked to the performance of the iShares Bitcoin Trust ETF, and the maximum return obtainable corresponds to 85 per cent of the ETF's total earnings during the investment period. The structure limits participation in earnings, but protects investors who want exposure to Bitcoin without risking capital.

"We are seeing increasing interest from professional investors in instruments related to new asset classes such as cryptocurrencies," said Chicco di Stasi, head of Group Investment Product Solutions and Equity & Credit Sales and Trading at UniCredit.

The offer comes at a time when European institutional clients are increasingly looking for regulated investment options in the cryptocurrency sector.
The iShares Bitcoin Trust (IBIT) from BlackRock was launched in the United States in January 2024 and quickly reached $75 billion in assets under management, demonstrating the growing interest from both retail and professional investors in digital assets.

BlackRock subsequently launched the iShares Bitcoin ETP in Europe on 25 March 2025, as part of its expansion into the cryptocurrency market. The product is now traded on a number of exchanges, including Euronext Amsterdam under the ticker BTCN and Euronext Paris under the ticker IB1T.
To boost adoption, BlackRock offered a management fee waiver at launch, reducing the annual fee to 0.15% until the end of the year.

UniCredit's new product represents the first structured investment in Italy linked to a Bitcoin ETF with capital protection. The offering allows professional investors to access the world of cryptocurrencies in a regulated and low-risk manner.

"The bank's plans include the issuance of a five-year dollar-denominated investment certificate linked to the iShares Bitcoin Trust ETF, which will offer 100% capital protection at maturity," UniCredit executives confirmed.

With this initiative, UniCredit intends to meet the evolving needs of professional clients interested in new asset classes such as cryptocurrencies by combining the protections typical of traditional investments with access to one of the leading Bitcoin ETFs.
The bank is thus among the first players to bring structured products linked to cryptocurrencies to the Italian institutional market.