UBS Boosts Bitcoin Exposure, Buys More Shares in BlackRock's iShares Trust
Switzerland's largest bank, UBS, has increased its exposure to Bitcoin by buying more shares in BlackRock's iShares Bitcoin Trust.
The bank acquired additional shares of IBIT, bringing its total position to over $83 million across 2.5 million shares, according to a filing with the U.S. Securities and Exchange Commission.
This marks the latest development in UBS's gradual increase in its Bitcoin holdings since BlackRock's top fund was approved by the SEC in January 2024.
BlackRock's iShares Bitcoin Trust is the most successful crypto ETF, with over $47.3 billion in assets under management and has received more cash than any other crypto ETF.