Bitcoin ETF

Bitcoin

Citadel

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According to a recent regulatory filing, Swiss banking giant UBS&nbsp;<a href="https://twitter.com/DeItaone/status/1790082026499866834" rel="noopener noreferrer nofollow">owns</a> 3,600 shares of BlackRock's iShares Bitcoin Trust (IBIT).&nbsp;&nbsp;
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.&nbsp;
In late 2023, the Swiss banking behemoth also let some of its affluent clients gain exposure to cryptocurrency ETFs based in Hong Kong.&nbsp;
As&nbsp;<a href="https://u.today/citadel-goldman-sachs-ubs-citigroup-now-want-piece-of-bitcoin" rel="noopener noreferrer nofollow">reported by U.Today</a>, UBS also appeared on the list of authorized participants for BlackRocks' IBIT alongside such big names as Citadel and Goldman Sachs back in April.&nbsp;
In 2021, former UBS CEO Ralph Hamers&nbsp;<a href="https://u.today/ubs-ceo-rejects-crypto-we-dont-advise-on-speculation" rel="noopener noreferrer nofollow">dismissed</a> cryptocurrencies as "speculation," arguing that they cannot be regarded as a legitimate investment.&nbsp;
Meanwhile, Bitcoin ETFs continue to gain traction despite a recent streak of outflows.&nbsp;
On May 9, Edmond de Rothschild (Suisse) 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.&nbsp;
Last week, JPMorgan Chase, the leading US bank by assets under management,&nbsp;<a href="https://u.today/jpmorgan-discloses-bitcoin-etf-holdings" rel="noopener noreferrer nofollow">disclosed</a> Bitcoin ETF holdings.&nbsp;
Trading firm Susquehanna International Group (SIG), which was co-founded by billionaire businessman Jeff Yass, is&nbsp;<a href="https://u.today/trading-giant-susquehanna-holds-1-billion-in-bitcoin-etfs" rel="noopener noreferrer nofollow">also</a> on the Bitcoin ETF train.&nbsp;&nbsp;
BlackRock's Robert Mitchnick recently revealed that major institutions were in the process of exploring Bitcoin.&nbsp;

Swiss Banking Giant UBS Jumps on Bitcoin ETF Train

U_Today

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