UBS Boosts Bitcoin ETF Exposure with Substantial Increase in Call Option Holdings

Swiss bank UBS significantly increased its exposure to BlackRock's iShares Bitcoin Trust (IBIT) in Q2, raising call option holdings 24-fold and increasing direct IBIT shares by 12%.

The bank now holds 1.95 million call options for IBIT, a substantial increase from the previous quarter.

UBS also reduced its put option exposure to IBIT by about 53%, holding 143,300 shares.

The move aligns with UBS's broader strategy to expand client access to digital assets.

The filing does not clarify whether these changes are due to client demand, market-making, or proprietary trading.