UBS significantly increased its holdings in Bitcoin ETF options, with IBIT bullish positions surging 24 times in the quarter

According to CoinDesk, Swiss banking giant UBS significantly increased its exposure to BlackRock's iShares Bitcoin Trust (IBIT) in the second quarter, with its nominal position in IBIT call options rising from 80,000 shares to approximately 1.95 million shares, an increase of over 24 times; during the same period, its directly held IBIT shares increased from 364,371 shares to 407,890 shares, an increase of about 12%.

In contrast, UBS's nominal exposure to IBIT put options decreased from 303,300 shares to 143,300 shares, a decrease of about 53%. Regulatory filings did not disclose the options' strike prices and expiration dates, nor did they specify whether the changes were driven by client trading demand, market-making hedges, active management, or proprietary trading.