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| Foto:amundi Asset Management |
VISTORBELITUNG.COM,PARIS – In a move signaling a major shift in institutional acceptance of digital assets, Amundi, Europe's largest asset manager with over $2.4 trillion (€2.3 trillion) in assets under management (AUM), is reportedly preparing to launch its first Bitcoin Exchange-Traded Product (ETP), likely an Exchange-Traded Note (ETN), targeting an early 2026 debut.
The Paris-based finance powerhouse, a subsidiary of the French bank Crédit Agricole, is expected to follow the successful path forged by US-based counterparts, potentially offering European investors regulated and easily accessible exposure to the world's leading cryptocurrency.
The planned launch marks Amundi as the first major European financial firm to make such a significant foray into the crypto investment product space, underscoring the growing mainstream legitimacy of Bitcoin. While US financial giants like BlackRock have already launched highly successful spot Bitcoin ETFs, Amundi's entry is poised to accelerate institutional adoption across the European continent.
Sources familiar with the matter, including reports from the French crypto publication The Big Whale, indicate that the preparations are underway. The product, anticipated to be structured as a Bitcoin ETN, is positioned to meet the surging institutional demand for regulated crypto exposure, providing a vehicle for portfolio diversification and a hedge against inflationary pressures.
The move comes amid a clearer regulatory environment in Europe, largely facilitated by the implementation of the Markets in Crypto-Assets (MiCA) framework. This comprehensive EU regulation aims to establish clearer guidelines and stronger safeguards for crypto products, providing a more predictable and compliant runway for asset managers like Amundi.
"Amundi's decision reflects a calculated response to evolving client needs and the clarifying regulatory landscape under MiCA," said a market analyst. "Their scale and influence could dramatically reshape how traditional European portfolios incorporate digital assets."
The launch is expected to be a direct challenge to the market share of US firms and further solidify Bitcoin's standing among institutional investors, positioning Amundi as a key competitor in the burgeoning global crypto finance sector.
ETN vs ETF: The European Context
While often referred to broadly as a Bitcoin ETF, the product in Europe is more likely to be structured as an Exchange-Traded Note (ETN) or an Exchange-Traded Product (ETP) under the UCITS regulatory framework, which governs most widely distributed European funds.
ETN: A type of unsecured debt security that tracks an underlying index or benchmark, with its value based on the performance of the asset (in this case, Bitcoin). Unlike an ETF, it does not hold the underlying asset directly, which introduces counterparty risk from the issuer.
ETP: A general term that includes ETFs, ETNs, and Exchange-Traded Commodities (ETCs).
Amundi's immense AUM and vast distribution network across Europe are expected to provide a significant boost to the product's visibility and adoption, making regulated Bitcoin exposure available to a much broader base of professional and retail investors.