UBS Sees 24-Fold Bitcoin Exposure Surge Amid Digital Asset Expansion

Swiss banking giant UBS has significantly increased its exposure to Bitcoin through BlackRock's iShares Bitcoin Trust (IBIT) in the second quarter. According to a regulatory filing, UBS reported a more than 24-fold quarterly increase in call option exposure tied to IBIT.

The bank now holds calls representing 1.95 million underlying IBIT shares as of June 30, up from 80,000 three months earlier. This surge in options gives UBS the right to acquire IBIT shares at a later date at a set price.

In addition to its call option exposure, UBS also saw an increase in its direct IBIT holdings, rising about 12% to around $13.6 million.