According to a recent regulatory filing, Swiss banking giant UBS has 3,600 shares of BlackRock’s iShares Bitcoin Trust (IBIT).
According to a recent regulatory filing, Swiss banking giant UBS has 3,600 shares of BlackRock’s iShares Bitcoin Trust (IBIT).
Earlier this year, UBS decided to allow some of its clients to trade Bitcoin ETFs. However, accounts with a lower level of risk tolerance cannot be exposed to the new funds. Additionally, UBS is not supposed to solicit Bitcoin ETF traders.
In late 2023, the Swiss banking giant also allowed some of its wealthy clients to gain exposure to Hong Kong-based cryptocurrency ETFs.
As reported by U.TodayUBS also appeared on BlackRocks’ list of approved IBIT participants in April alongside such big names as Citadel and Goldman Sachs.
In 2021, former UBS CEO Ralph Hamers fired cryptocurrencies as “speculation”, arguing that they cannot be considered a legitimate investment.
Meanwhile, Bitcoin ETFs continue to gain traction despite a recent spate of capital outflows.
On May 9, Edmond de Rothschild (Suisse) SA, part of the famous Edmond de Rothschild Group, acquired shares worth $4.2 million in Bitcoin ETFs.
Last week, JPMorgan Chase, the largest US bank by assets under management, revealed Bitcoin ETF Holdings.
The trading firm Susquehanna International Group (SIG), co-founded by billionaire businessman Jeff Yass, is also on the Bitcoin ETF train.
BlackRock’s Robert Mitchnick recently revealed that major institutions were in the process of exploring Bitcoin.
