UBS Boosts BlackRock Bitcoin ETF Call Options 24-Fold Amid Expansion Plans

UBS Group AG significantly increased its call-option position tied to BlackRock Inc.'s Bitcoin exchange-traded fund, IBIT. The bank disclosed a call-option position linked to 1.95 million shares of IBIT as of the end of the second quarter, up from 80,000 shares at the end of the first quarter. This represents a more than 24-fold increase.

The filing did not include strike prices or expiration dates, making it difficult to determine UBS's net directional exposure. The positions may reflect client hedging, market-making activity, discretionary client portfolios or proprietary trading.

UBS also increased its direct holdings of IBIT over the same period. It held 407,890 shares at the end of the second quarter, up about 12% from 364,371 shares at the end of the first quarter. The position is valued at about $13.6 million.