Swiss Banking Giant UBS Jumps on Bitcoin ETF Train

Earlier this year, UBS decided to allow some of its customers to trade Bitcoin ETFs. However, accounts with a lower level of risk tolerance are barred from getting exposure to the new funds. Moreover, UBS is not supposed to solicit Bitcoin ETF traders.

In late 2023, the Swiss banking behemoth also let some of its affluent clients gain exposure to cryptocurrency ETFs based in Hong Kong. , UBS also appeared on the list of authorized participants for BlackRocks' IBIT alongside such big names as Citadel and Goldman Sachs back in April. On May 9, Edmond de Rothschild S.A., which is part of the famous part of the Edmond de Rothschild Group, has acquired $4.2 million worth of shares in Bitcoin ETFs.

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