ChainCatcher report, according to CoinDesk, Swiss banking giant UBS increased its bullish exposure to BlackRock’s spot Bitcoin ETF (IBIT) from 80,000 contracts in Q1 to 1.95 million contracts in Q2—an increase of over 24 times; its direct holdings of IBIT shares rose approximately 12% to 407,890 shares, valued at around $13.6 million; its bearish option exposure decreased by approximately 53% to 143,300 contracts. UBS manages over $7 trillion in assets and began preparing Bitcoin and Ethereum trading services for its Swiss private banking clients earlier this year, though regulatory filings do not specify whether this increase in options exposure is related to client business.
UBS Q2 Bitcoin ETF Call Options Surge 24x, Direct Holdings Rise 12%
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Summary
UBS increased its Bitcoin ETF call options in Q2, rising 24-fold to 1.95 million. Options market exposure reflects a significant shift in positioning. Direct holdings of BlackRock’s IBIT rose 12% to 407,890 shares, valued at $13.6 million. Put options declined 53% to 143,300. ETF inflows into IBIT remain robust, with UBS preparing crypto services for Swiss clients in 2026.
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