UniCredit to supply Bitcoin publicity to skilled shoppers through BlackRock IBIT-linked certificates
European banking behemoth UniCredit is getting into the crypto area with a structured product tied to BlackRock’s spot Bitcoin exchange-traded fund (ETF), Bloomberg Information reported on July 1, citing an inner memo.
Beneath the plan, UniCredit will supply skilled shoppers a five-year, U.S. dollar-denominated funding certificates linked to BlackRock’s iShares Bitcoin Belief (IBIT). The product will assure 100% capital safety at maturity.
BlackRock launched its spot Bitcoin exchange-traded product in Europe in March, itemizing below the ticker “IB1T” on Euronext Paris and Xetra, and “BTCN” on Euronext Amsterdam.
The agency’s U.S.-listed IBIT fund has amassed over $73 billion in belongings below administration, making it probably the most profitable crypto-linked monetary product by funding capital so far.
The transfer comes amid a sweeping embrace of digital belongings by European banks, enabled by the EU’s Markets in Crypto-Belongings (MiCA) regulatory regime changing into efficient throughout the bloc.
Deutsche Financial institution final week confirmed it can launch institutional crypto custody providers in 2026. It follows a June announcement that the lender can be exploring stablecoin issuance and blockchain cost tasks in line with MiCA pointers.
Concurrently, Germany’s Sparkassen-Finanzgruppe, comprising native financial savings banks with over 50 million prospects, is getting ready to roll out regulated crypto buying and selling entry for its retail shoppers by summer time 2026, providing belongings resembling Bitcoin (BTC) and Ethereum (ETH).
In the meantime, Deutsche Boerse’s custody arm, Clearstream, started offering institutional shoppers with Bitcoin and Ethereum settlement and custody providers earlier this yr.
France’s Societe Generale can be persevering with its growth into digital finance and launching a dollar-pegged stablecoin, USD CoinVertible, through its SG-FORGE subsidiary this month.dy.
Spain’s BBVA, generally cautious on crypto, now advises prosperous shoppers to carry 3%–7% of their portfolios in Bitcoin and Ethereum. The lender has additionally secured approval to launch crypto buying and selling providers.
Nonetheless, European regulators stay cautious. ECB Governor Fabio Panetta lately reiterated considerations of reputational dangers from crypto providers inside regulated banks and harassed the necessity to handle investor expectations and take into account a digital euro to protect confidence in monetary methods.
