UniCredit Offers Italian Elites Exposure to Bitcoin via BlackRock’s IBIT Italy’s second-largest bank, UniCredit SpA, is embracing Bitcoin courtesy of traditional finance. Since July 1, it is offering a five-year, dollar-denominated structured note referenced to BlackRock’s iShares Bitcoin Trust ETF (IBIT), specifically tailored for sophisticated investors. The product, available for sale until July 28, is fully capital-protected at maturity—providing risk-conscious investors with access to the upside potential of Bitcoin without the volatility generally linked to crypto markets. A Gateway to Bitcoin with Low Volatility In contrast to conventional crypto holdings, UniCredit’s certificate is crafted for institutional investors apprehensive of price volatility and regulatory uncertainty. Supported by IBIT, which manages more than $73 billion in assets, the product offers a liquid, regulated access to Bitcoin markets—without wallet or token ownership. According to Bloomberg in a report based on an internal memo, the offering is a “low-friction” gateway for digital assets—ideal for Italian wealth managers needing compliant, traditional-type products. Why This Matters for Europe’s Financial Sector UniCredit’s move represents an evolving institutional shift. As BlackRock’s IBIT listed on Euronext Paris and Xetra in March, interest in Bitcoin has surged among European institutions. But many are still holding back due to regulatory and custody concerns. By wrapping Bitcoin exposure in a familiar TradFi product that shields capital, UniCredit may set the standard for how Europe’s banks come to digital assets. This hybrid approach—crypto profit, no direct crypto touch—is likely to be emulated soon by banks across the continent that remain on the sidelines.