Bitcoin ETF calls surge 24-fold as puts fall 52.75%, reaching 1.95M IBIT underlying shares

UBS Group’s Aug. 13 regulatory filing showed that shares underlying its reported call options on BlackRock’s iShares Bitcoin Trust ETF (IBIT) climbed to 1.95 million during the second quarter, while its reported non-option share position increased 11.94%.

The Form 13F filing, which the U.S. Securities and Exchange Commission accepted on Aug. 13, covered positions reported as of June 30. Across five non-option IBIT rows, UBS listed 407,890 shares, up from 364,371 across comparable rows at March 31. The increase was 43,519 shares.

However, the call line changed far more. UBS had reported calls covering 80,000 underlying shares at March 31, then 1.95 million at June 30. That was an increase of 1.87 million underlying-share equivalents, or 2,337.5%, leaving the quarter-end amount at more than 24 times its March level.

Form 13F presents option quantities as the shares underlying the contracts. These quantities are distinct from the non-option share rows, and the form does not report exercise status.

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