UBS Ups Bitcoin Position, Buys More Shares in BlackRock’s ETF

Bitcoin Magazine

UBS Ups Bitcoin Position, Buys More Shares in BlackRock’s ETF 

Switzerland’s largest bank has upped its exposure to Bitcoin, according to regulatory filings.

UBS bought more shares in BlackRock’s iShares Bitcoin Trust, bringing its total position to over $83 million across 2.5 million shares, according to a filing with the U.S. Securities and Exchange Commission.

The bank has slowly upped its exposure to the biggest cryptocurrency by market cap since BlackRock’s top fund got approved back in 2024.

The filings are the latest examples of traditional institutions seeking exposure to Bitcoin. ETFs like BlackRock’s Bitcoin Trust — which trades as IBIT — allow investors to buy exposure to the leading cryptocurrency without having to store the digital coin directly.

Since the SEC approved a slew of Bitcoin funds in January 2024, major firms have been able to buy exposure to the asset via shares of the regulated vehicles that trade on stock exchanges.

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