UniCredit SpA, Italy's second-largest bank, has launched a new investment certificate linked to BlackRock's Bitcoin ETF, indicating European banks' increasing interest in cryptocurrencies.
UniCredit's New Investment Product
UniCredit SpA, with €748 billion ($881 billion) in assets, has introduced a five-year investment certificate aimed at professional clients, offering full capital protection at maturity.
Details of the Certificate and Its Appeal
The certificate will mirror the performance of the BlackRock ETF and caps returns at 85% of the ETF's performance. It is available for subscription from July 1 to July 28, with a minimum investment of $25,000. This type of structure is known as a 'capital-protected note,' appealing to investors wary of cryptocurrency volatility.
Growing Interest in Cryptocurrencies in Europe
European banks are showing interest in the digital asset sector, highlighted by Intesa Sanpaolo's Bitcoin purchase and Banco Santander's planned stablecoin. The success of UniCredit's product could further expand digital assets within the bank and attract more European banks.
The launch of UniCredit's investment certificate marks a significant move towards cryptocurrency acceptance in Europe, with potential openings for investors and banks in the digital space.
