Swiss bank UBS increased its IBIT call options to 1.95 million shares while reducing put exposure by 53% in Q2.
UBS expanded its Bitcoin exposure by increasing call options on BlackRock’s iShares Bitcoin Trust (IBIT) 24-fold to 1.95 million underlying shares as of June 30. The move coincides with a 12% rise in direct IBIT holdings to 407,890 shares, valued at approximately $13.6 million.
The bank’s put option exposure declined by 53% to 143,300 shares during the same period. UBS’s previous quarterly filing showed 80,000 call options and 364,371 direct IBIT shares, highlighting a shift in strategy.
The filing does not specify whether the increase stems from client activity, proprietary trading, or market-making. UBS manages over $7 trillion in assets under management.