Key facts
- UBS increased its call option exposure to BlackRock's iShares Bitcoin Trust (IBIT) by over 24 times in the second quarter.
- UBS's call option holdings in IBIT reached 1.95 million underlying shares.
- UBS's direct holdings of IBIT increased by 12% in the second quarter.
- UBS decreased its put option exposure to IBIT.
- The second quarter saw significant shifts in UBS's Bitcoin ETF investment strategy.
In the second quarter, Swiss bank UBS significantly amplified its investment exposure to Bitcoin Exchange Traded Funds (ETFs), particularly through call options on BlackRock's iShares Bitcoin Trust (IBIT). The bank's call option exposure to IBIT surged by over 24 times, reaching a total of 1.95 million underlying shares. This substantial increase in call option holdings indicates a strong bullish outlook on the future price movements of Bitcoin.