Italy-based UniCredit SpA introduced immediately it’ll provide to its skilled purchasers a structured funding product tied to BlackRock’s iShares Bitcoin Belief ETF (IBIT), providing their purchasers full capital safety in opposition to losses, Bloomberg reported.
“The financial institution plans to concern a five-year, dollar-denominated funding certificates linked to the iShares Bitcoin Belief ETF which is able to provide a 100% capital safety at maturity,” in keeping with an inside memo seen by Bloomberg Information that was additionally confirmed by the financial institution.
The utmost return of the funding is as much as 85% of the ETF’s efficiency, with a minimal funding requirement of $25,000, in keeping with the memo. The UniCredit certificates can be solely accessible to the financial institution’s skilled purchasers in Italy from July 1 to July 28.
The transfer displays rising institutional demand for regulated Bitcoin investments. BlackRock’s IBIT has seen a speedy progress since launching within the U.S. in January 2024, which now manages $75 billion.
“We’re seeing rising curiosity from skilled traders in devices tied to rising asset courses corresponding to cryptocurrencies,” stated the Head of Group Funding Product Options and Fairness & Credit score Gross sales and Buying and selling of UniCredit Chicco di Stasi. “With this product, we provide our skilled purchasers a particular answer —the primary of its sort in Italy.”
On March 25, 2025, BlackRock expanded its footprint within the area with the launch of a Bitcoin alternate traded product in Europe. The iShares Bitcoin ETP started buying and selling on Xetra and Euronext Paris underneath the ticker IB1T, and on Euronext Amsterdam underneath BTCN. The product launched with a short lived payment waiver of 10 foundation factors, reducing its expense ratio to 0.15% till the tip of the yr.
“It displays what actually could possibly be seen as a tipping level within the business — the mix of established demand from retail traders with extra professionals now actually stepping into the fold,” said the Head of Europe & Center East iShares Product of BlackRock Manuela Sperandeo.