Banking large UBS, with over $7 trillion in belongings underneath administration, has reported a greater than 24-fold quarterly improve in name possibility publicity tied to BlackRock’s iShares Bitcoin Belief (IBIT) within the second quarter.
That improve, which supplies it the fitting to amass IBIT shares at a later date at a set value, got here as its outright IBIT holdings rose about 12%, based on a regulatory submitting this week.
The Swiss banking group reported calls representing 1.95 million underlying IBIT shares as of June 30, up from 80,000 three months earlier. UBS individually held 407,890 IBIT shares price about $13.6 million, in contrast with 364,371 shares on the finish of the primary quarter, based on its Q1 submitting.
Put possibility publicity, giving UBS the fitting however not the duty to promote IBIT at a set date and value, moved in the other way. UBS reported places representing 143,300 underlying shares, down about 53% from 303,300 on the finish of March.
Its direct IBIT place additionally remained under the 548,614 shares reported on the finish of 2025, based on its fourth-quarter submitting.
The disclosure additionally doesn’t embody strike costs or expirations, making it troublesome to find out UBS’s web directional publicity from the submitting alone.