As a seasoned crypto investor with a keen interest in following the moves of institutional players, I find UBS’s recent investment in BlackRock’s iShares Bitcoin Trust (IBIT) to be an intriguing development. While the bank initially expressed skepticism towards cryptocurrencies, their latest actions suggest a more open stance.
Based on a recent disclosure, UBS, the prominent Swiss bank, holds approximately 3,600 units of the BlackRock iShares Bitcoin Trust named IBIT.
This year, UBS announced that certain clients could invest in Bitcoin Exchange-Traded Funds (ETFs). However, those with a lower risk appetite are unable to access these new investment vehicles. Additionally, UBS is prohibited from actively seeking out clients for Bitcoin ETF trading.
Around the end of 2023, the massive Swiss banking institution granted access to selected wealthy customers to invest in cryptocurrency Exchange-Traded Funds (ETFs) located in Hong Kong.
Based on U.Today’s report, I found that UBS was included among the authorized participants for BlackRock’s IBIT (Index Inequalities Trading) back in April. This list also featured heavyweights like Citadel and Goldman Sachs.
In the year 2021, Ralph Hamers, who previously led UBS, expressed his view that cryptocurrencies are merely forms of speculation and should not be considered as valid investment options.
Meanwhile, Bitcoin ETFs continue to gain traction despite a recent streak of outflows.
On May 9th, the Swiss branch of Edmond de Rothschild Group, specifically Edmond de Rothschild (Suisse) S.A., purchased approximately $4.2 million in Bitcoin exchange-traded funds (ETFs).
Last week, it was revealed that JPMorgan Chase, the largest US bank in terms of assets under management, had invested in a Bitcoin Exchange-Traded Fund (ETF).
Billionaire entrepreneur Jeff Yass’s trading firm, Susquehanna International Group (SIG), is likewise pursuing the Bitcoin Exchange-Traded Fund (ETF) bandwagon.
Recent disclosures from Robert Mitchnick at BlackRock indicate that some significant institutions are currently considering Bitcoin as a potential investment option.
Read More
- SOL PREDICTION. SOL cryptocurrency
- USD PHP PREDICTION
- USD COP PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- TON PREDICTION. TON cryptocurrency
- Strongest Magic Types In Fairy Tail
- ENA PREDICTION. ENA cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- OSMO PREDICTION. OSMO cryptocurrency
2024-05-13 22:46