Bloomberg News quoted an internal memo on July 1, citing European bank giant UnicRedit joins Crypto Arena, featuring a structured product tied to BlackRock’s Spot Bitcoin Exchange-Traded Fund (ETF).
Under this plan, UnicRedit will provide professional clients with a five-year, US dollar-controlled investment certificate linked to BlackRock’s iShares Bitcoin Trust (IBIT). This product guarantees 100% capital protection at maturity.
BlackRock launched its Bitcoin Exchange-Traded product in Europe in March, listed under the ticker “IB1T” from EuroNext Paris and Xetra and “BTCN” from EuroNext Amsterdam.
The company’s US-listed IBIT fund has accumulated over $73 billion in managed assets, making it the most successful crypto-related financial product due to its investment capital to date.
The move has enabled the EU market of the Crypto-Assets (MICA) regulatory regime to be enabled across the bloc amid a fundamental embrace of digital assets by European banks.
Deutsche Bank confirmed last week that it will launch Institutional Crypto Custody Services in 2026. This follows a June announcement that lenders are stepping into the issuance of Stablecoin and blockchain payment projects under MICA guidelines.
At the same time, German Spamasen Finanzgrappe, which consists of a local savings bank with over 50 million customers, is preparing to deploy regulated crypto trading access for retail clients by summer 2026 and provide assets such as Bitcoin (BTC) and Ethereum (ETH).
Meanwhile, Clearstream, the custody arm of Deutsche Boerse, began offering Bitcoin and Ethereum settlement and custody services to institutional clients earlier this year.
French Société Generale is also continuing its expansion into digital finance, launching USD Coinvertible, a dollar-imposed Stablecoin, through its SG-forge subsidiary this month.
The Spanish BBVA, generally cautious to Crypto, is currently advising wealthy clients to keep 3%-7% of their portfolio in Bitcoin and Ethereum. The lender has also secured approval to launch the crypto trading service.
However, European regulators are cautious. ECB Governor Fabiopanetta has recently reiterated concerns about the risks of reputation from crypto services within regulated banks, highlighting the need to consider a digital euro that manages investors’ expectations and maintains confidence in the financial system.