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UBS Group AG Reveals Significant Holdings in BlackRock’s iShares Bitcoin Trust

UBS Group AG has disclosed ownership of 3,600 shares in the iShares Bitcoin Trust, a BlackRock subsidiary, valued at $124,488 as of March 31, 2024.

UBS now permits some clients to trade Bitcoin ETFs, despite restricting accounts with lower risk tolerance.

Other major institutions, including Edmond de Rothschild and JPMorgan Chase, have also shown interest in Bitcoin ETFs.

UBS Group AG, a Swiss-based global investment bank and financial services company, unveiled significant ownership in iShares Bitcoin Trust (IBIT) in its latest 13F filing with the Securities and Exchange Commission (SEC).

In its quarterly filing for the first quarter of 2024, UBS, along with its subsidiaries and institutional investment managers, holds 3,600 shares in IBIT. As of March 31, 2024, the holding’s value amounted to $145,692. However, its current value stands at approximately $124,488.

About iShares Bitcoin Trust
iShares Bitcoin Trust (IBIT) is an exchange-traded fund (ETF) managed by BlackRock Inc., providing investors with the opportunity to invest in Bitcoin, the leading cryptocurrency globally. IBIT also enables investors to trade Bitcoin within a regular brokerage account, making it more user-friendly and accessible than direct Bitcoin ownership. As of May 10, IBIT had net assets of $16.6 billion and a net expense ratio of 0.12%.

UBS’s interaction with BlackRock Inc. is noteworthy as BlackRock is one of the institutional shareholders in UBS, owning approximately 5.01% of its total capital.

UBS’s investment in IBIT is expressed through various segments such as global wealth management, personal and corporate banking, asset management, and investment banking, indicating UBS’s interest in the cryptocurrency market.

Regulatory Deposit Details
According to regulatory filings, UBS owns 3,600 shares in the iShares Bitcoin Trust (IBIT) under BlackRock. At the beginning of 2024, UBS allowed some of its clients to trade Bitcoin ETFs, but accounts with lower risk tolerance were not granted access to these funds.

UBS is also not expected to request a Bitcoin ETF. In late 2023, UBS allowed some wealthy clients to exposure to cryptocurrency-traded investment funds in Hong Kong. UBS also appeared on the list of accredited participants in BlackRock’s IBIT alongside Citadel and Goldman Sachs in April.

Read more BlackRock Explores Bitcoin Investment Opportunities Amid Rising Interest

Other entities have also traced to Bitcoin ETFs. Edmond de Rothschild (Suisse) SA, a part of the Edmond de Rothschild Group, purchased $4.2 million on May 9. Additionally, JPMorgan Chase, one of the largest American banks by managed assets, disclosed its holdings in Bitcoin ETFs.

Susquehanna International Group (SIG), a trading firm co-founded by billionaire Jeff Yass, also participates in Bitcoin ETFs. Robert Michnick of BlackRock recently stated that major institutions are now looking into Bitcoin, indicating that the cryptocurrency sector is now attracting interest from established financial entities.

Important Notice: The content of this article is for informational purposes only and should not be construed as financial advice. assumes no responsibility for any investment decisions made based on the information provided herein. It is strongly advised to seek the guidance of a qualified specialist or financial advisor before making any investment choices.

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