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UBS boosts call option exposure tied to IBIT by more than 24-fold

UBS reported 1.95 million underlying IBIT shares in call options as of June 30, while its put exposure fell about 53% to 143,300 shares during the quarter.

Reported · Written up by our desk · Regulation

UBS increased its quarterly exposure to BlackRock’s iShares Bitcoin Trust (IBIT) through call options by more than 24-fold, reaching 1.95 million underlying IBIT shares as of June 30, according to a regulatory filing reviewed by CoinDesk.

The filing also showed UBS’s direct IBIT holdings rose about 12% to 407,890 shares, valued at roughly $13.6 million, compared with 364,371 shares at the end of the first quarter.

At the same time, UBS’s put option exposure declined by about 53% to 143,300 underlying shares from 303,300 at the end of March, with the disclosure not providing strike prices or expirations.

CoinDesk reported that the filing does not clarify whether the jump in call exposure was driven by client initiatives, dealer hedging, market-making, or proprietary exposure, although UBS has been expanding its efforts to provide select private banking clients in Switzerland access to bitcoin and ether trading.

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