Swiss mega-bank UBS ramps up its Bitcoin exposure with a massive 24-fold surge in ETF call options

Banking giant UBS, with over $7 trillion in assets under management, has reported a more than 24-fold quarterly increase in call option exposure tied to BlackRock’s iShares Bitcoin Trust (IBIT) in the second quarter. That increase, which gives it the right to acquire IBIT shares at a later date at a set price, came as its outright IBIT holdings rose about 12%, according to a regulatory filing this week.

Direct holdings of IBIT also rose 12% to 407,890 shares, while put option exposure dropped roughly 53% to 143,300 underlying shares during the quarter.

Summarised by Agaah from CoinDesk. Agaah aggregates 36 sources and removes duplicate coverage — all news, one place.