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UBS increases Bitcoin ETF calls 24-fold
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UBS increases Bitcoin ETF calls 24-fold

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• UBS increased its call options tied to BlackRock’s Bitcoin ETF by more than 24-fold.
• The calls represented 1.95 million underlying IBIT shares at June 30.
• UBS also increased direct IBIT holdings 12% while reducing put exposure 53%.

UBS increased its quarterly call option exposure to BlackRock’s iShares Bitcoin Trust by more than 24-fold.

The Swiss bank reported calls representing 1.95 million underlying IBIT shares at June 30, up from 80,000 three months earlier.

UBS also held 407,890 IBIT shares worth about $13.6 million, up from 364,371 shares at the end of March.

Put option exposure fell about 53% to 143,300 underlying shares, down from 303,300 shares three months earlier.

The filing does not disclose strike prices or expiry dates, making UBS’s net directional exposure difficult to determine.

UBS manages more than $7 trillion in assets and has expanded its work around client access to digital assets.

Earlier this year, UBS began preparing to offer selected private banking clients in Switzerland access to Bitcoin (CRYPTO:BTC) and Ether (CRYPTO:ETH) trading.

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