In a landmark move signaling growing institutional confidence in digital assets, UniCredit has unveiled Italy’s first Bitcoin-linked structured certificate for professional clients. This innovative financial product offers exposure to the rapidly expanding cryptocurrency market—specifically through BlackRock’s iShares Bitcoin Trust ETF (IBIT)—while maintaining full capital protection at maturity. Designed as a five-year investment vehicle, the certificate blends traditional banking security with next-generation asset exposure, reflecting a broader shift in European finance toward regulated crypto integration.
A Regulated Gateway to Bitcoin
The new structured certificate is dollar-denominated and available from July 1 to July 28, targeting professional investors in Italy. With a minimum investment threshold of US$25,000, it provides indirect access to Bitcoin price performance without requiring direct ownership, wallet management, or blockchain interaction—key barriers that have historically deterred conservative or institutional investors.
Crucially, the product features 100% capital protection at maturity, meaning investors are guaranteed to receive their principal back regardless of Bitcoin’s market fluctuations over the five-year term. Returns are linked to the performance of BlackRock’s IBIT ETF, with a cap set at 85% of the ETF’s total gains. For example, if IBIT rises 100% over five years, investors in the certificate would earn 85% of that return—effectively locking in strong upside potential while eliminating downside risk.
This structure makes the offering particularly appealing to risk-averse professionals seeking diversified exposure to digital assets within a compliant, bank-issued framework.
Why BlackRock’s IBIT ETF?
The choice of BlackRock’s IBIT as the underlying asset underscores its dominance in the spot Bitcoin ETF landscape. Launched in January 2024, IBIT quickly became one of the fastest-growing exchange-traded funds in history, amassing over US$75 billion in assets under management within months. Its strong institutional adoption and consistent daily inflows reflect deepening market trust in regulated crypto vehicles.
By tethering its certificate to IBIT, UniCredit leverages the credibility and liquidity of a globally recognized asset manager, enhancing investor confidence. The partnership between traditional banking infrastructure and cutting-edge financial innovation positions this product at the forefront of the converging worlds of fiat and digital finance.
Institutional Demand Drives Innovation
Chicco di Stasi, Head of Group Investment Product Solutions and Equity & Credit Sales and Trading at UniCredit, emphasized that the launch responds directly to rising demand from professional clients for instruments tied to emerging asset classes like cryptocurrencies.
“With this product, we offer our professional clients a distinctive solution – the first of its kind in Italy.”
This sentiment reflects a broader trend across Europe, where banks are increasingly exploring digital asset services to meet evolving client expectations.
Expanding Crypto Services Across European Finance
UniCredit’s move is part of a growing wave of financial institutions integrating crypto-related offerings into their portfolios:
- Intesa Sanpaolo, another major Italian bank, entered the spot Bitcoin market in early 2025 and now operates a dedicated digital asset trading desk.
- Banco Santander is piloting initial crypto services for select digital banking clients across select European markets.
- BlackRock itself expanded its reach by launching a European-listed Bitcoin ETF on Euronext Paris and Xetra earlier in 2025.
These developments highlight a strategic pivot: rather than treating crypto as a fringe asset, European banks are embedding it into mainstream finance through regulated, secure products that align with compliance standards and investor protection principles.
Key Features of the UniCredit Crypto Certificate
- Term: 5 years
- Currency: USD
- Minimum Investment: US$25,000
- Availability: July 1 – July 28, 2025
- Target Investors: Professional clients in Italy
- Capital Protection: 100% of principal returned at maturity
- Return Mechanism: Up to 85% participation in IBIT ETF gains over five years
- Underlying Asset: BlackRock iShares Bitcoin Trust (IBIT)
This combination of safety, simplicity, and upside potential makes the certificate a compelling option for wealth managers and institutional investors navigating the digital asset transition.
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Bridging Traditional Finance and Digital Assets
UniCredit’s certificate exemplifies a critical evolution: the fusion of financial innovation with capital preservation. It allows investors to benefit from Bitcoin’s long-term growth trajectory while operating within familiar regulatory and custodial environments. Unlike volatile self-custody models or unregulated platforms, this product offers transparency, auditability, and oversight—hallmarks of trusted banking.
For many investors, especially those in conservative markets like Italy, such hybrid instruments lower the psychological and operational barriers to crypto adoption. They represent not just investment tools but educational gateways into blockchain-based finance.
Frequently Asked Questions (FAQ)
Q: Who can invest in UniCredit’s Bitcoin-linked certificate?
A: The product is available exclusively to professional clients in Italy. Retail investors are not eligible.
Q: Is my entire investment protected?
A: Yes. The certificate guarantees 100% return of the principal amount at maturity, regardless of Bitcoin or IBIT performance.
Q: How are returns calculated?
A: Investors receive up to 85% of the total appreciation of BlackRock’s IBIT ETF over the five-year period. There is no leverage or compounding.
Q: Do I own Bitcoin directly?
A: No. The certificate is a debt instrument issued by UniCredit linked to IBIT’s performance. You do not hold crypto assets directly.
Q: What happens if IBIT underperforms or declines in value?
A: Even if IBIT loses value, investors still receive their full initial investment back at maturity due to the capital protection feature.
Q: Can I withdraw my money before maturity?
A: The certificate is designed as a five-year fixed-term product. Early redemption may not be available or could result in losses depending on market conditions.
The Future of Bank-Backed Crypto Investments
As more financial institutions embrace digital assets, products like UniCredit’s structured certificate will likely become standard components of diversified portfolios. They serve as bridges—offering regulated, low-friction access to high-growth assets while maintaining alignment with risk management frameworks.
With BlackRock leading ETF innovation and banks like UniCredit delivering distribution power, the convergence of traditional finance (TradFi) and decentralized finance (DeFi) is accelerating. These collaborations don’t replace crypto’s core ethos but rather extend its reach into mainstream markets.
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