UniCredit to offer Bitcoin exposure to professional clients via BlackRock IBIT-linked certificate

UniCredit links investment certificate to BlackRock's iShares Bitcoin Trust, ensuring capital protection for clients.

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

European banking behemoth UniCredit is entering the crypto arena with a structured product tied to BlackRock’s spot Bitcoin exchange-traded fund (ETF), Bloomberg News reported on July 1, citing an internal memo.

Under the plan, UniCredit will offer professional clients a five-year, U.S. dollar-denominated investment certificate linked to BlackRock’s iShares Bitcoin Trust (IBIT). The product will guarantee 100% capital protection at maturity.

BlackRock launched its spot Bitcoin exchange-traded product in Europe in March, listing under the ticker “IB1T” on Euronext Paris and Xetra, and “BTCN” on Euronext Amsterdam.

The firm’s U.S.-listed IBIT fund has amassed over $73 billion in assets under management, making it the most successful crypto-linked financial product by investment capital to date.

The move comes amid a sweeping embrace of digital assets by European banks, enabled by the EU’s Markets in Crypto-Assets (MiCA) regulatory regime becoming effective across the bloc.

Deutsche Bank last week confirmed it will launch institutional crypto custody services in 2026. It follows a June announcement that the lender is also exploring stablecoin issuance and blockchain payment projects in step with MiCA guidelines.

Simultaneously, Germany’s Sparkassen-Finanzgruppe, comprising local savings banks with over 50 million customers, is preparing to roll out regulated crypto trading access for its retail clients by summer 2026, offering assets such as Bitcoin (BTC) and Ethereum (ETH).

Meanwhile, Deutsche Boerse’s custody arm, Clearstream,  began providing institutional clients with Bitcoin and Ethereum settlement and custody services earlier this year.

France’s Societe Generale is also continuing its expansion into digital finance and launching a dollar-pegged stablecoin, USD CoinVertible, via its SG-FORGE subsidiary this month.dy.

Spain’s BBVA, commonly cautious on crypto, now advises affluent clients to hold 3%–7% of their portfolios in Bitcoin and Ethereum. The lender has also secured approval to launch crypto trading services.

However, European regulators remain cautious. ECB Governor Fabio Panetta recently reiterated concerns of reputational risks from crypto services inside regulated banks and stressed the need to manage investor expectations and consider a digital euro to preserve confidence in financial systems.

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