Key Highlights
- Amundi prepares to launch its first-ever Bitcoin-indexed Exchange-Traded Products (ETPs) in 2026
- Hyperliquid CEO Jeff Yan claims these reported figures are vastly understated, asserting that Binance’s system only reports one liquidation per second per trading pair
- This reporting method means that during a market crash, when there can be over 100 liquidations per second
Europe’s largest asset manager, Amundi, has confirmed plans to launch its first-ever Bitcoin-indexed Exchange-Traded Products ETPs in early 2026.
This announcement shows that the most established players in traditional finance are now fully embracing cryptocurrency. With Bitcoin’s price going through massive price swings after crashing below $110,000, after U.S. President Donald Trump announced a tariff war against China.
Amundi’s move could open the floodgates for billions of dollars from pension funds, insurance companies, and everyday investors to flow into the digital asset, according to the latest report.
Amundi is not a small player. It is a titan in the finance industry, managing an almost unimaginable €2.3 trillion in assets. Born from the merger of two French giants, the company has built its reputation on reliable, passive investment products like ETFs that track stocks and bonds.
For years, Amundi watched the crypto market from the sidelines, which reflects a general sense of caution in Europe. Its decision to finally launch a Bitcoin product sends a powerful message of legitimacy and confidence to the entire market.
When a manager of this size and stature makes such a move, the entire financial world takes notice.
How Amundi’s Bitcoin ETPs Will Work for Investors
For investors, Amundi’s Bitcoin ETPs are designed to offer a simple and familiar way to gain exposure to Bitcoin’s price. Instead of having to buy and securely store Bitcoin themselves, a process that can be complex and intimidating, investors can simply buy shares of the ETP through their regular brokerage account.
The value of these shares will rise and fall with the price of Bitcoin. In Europe, these products are expected to be structured as Exchange-Traded Notes, which use derivatives to track the price rather than holding the physical Bitcoin directly.
This structure allows them to comply with strict European investment rules. True to its brand, Amundi is expected to keep the fees on these products low, making them an attractive option for a wide range of investors.
Last week, triggered by former U.S. President Donald Trump’s announcement of new tariffs on China, the cryptocurrency sector experienced one of its most severe liquidation events in history.
Bitcoin’s price tumbled to $102,000, while Ether dropped to $3,500 and Solana fell below $140. This widespread sell-off led to the forced closure of leveraged positions, with data tracker CoinGlass initially reporting $16.7 billion in liquidated long positions and $2.46 billion in short positions.
However, questions are now being raised about the accuracy of that staggering figure. According to Jeff Yan, co-founder and CEO of the exchange, Hyperliquid, the actual scale of losses may have been far greater. Yan pointed to a potential flaw in how major exchanges, specifically Binance, report their data.
Yann explained that Binance’s system, which provides real-time updates on liquidations, is designed to report only the most recent liquidation that occurs within each one-second interval.
While this batching of data helps the exchange’s platform maintain performance, it becomes a crucial source of underreporting during extreme market volatility. During such periods, there can be more than one liquidation for a single trading pair in a single second.
Because liquidations tend to happen in rapid bursts during a crash, Yan stated that this system could easily lead to underreporting the true number by a factor of one hundred times or more.
This assessment was supported by crypto data platform CoinGlass, which acknowledged in a separate post that the actual liquidated amount was likely much higher due to Binance’s reporting method.