web3: UBS Increases Spot Bitcoin ETF Holdings to $90 Million
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UBS has disclosed that its holdings in the spot Bitcoin ETF have increased to approximately $90 million, representing a 230% growth from previous levels. Switzerland's largest bank has also expanded its product offerings for wealth management clients, indicating that traditional financial institutions are still advancing in the allocation and servicing of crypto assets.
Holdings Increased to 2.5 Million Shares
According to the disclosure, UBS Group has raised its stake in the BlackRock iShares Bitcoin Trust (IBIT) to about 2.5 million shares, corresponding to a market value of approximately $90 million. When the bank first allocated to the Bitcoin ETF in early 2024, it held only 3,600 shares, worth less than $150,000.
A UBS spokesperson stated that the bank recognizes the role of blockchain and other distributed ledger technologies in digital assets. In terms of this change in holdings, UBS's exposure to the spot Bitcoin ETF has significantly expanded.
Wealth Management Business Progressing Simultaneously
In addition to its own holdings, UBS is also opening IBIT and similar products to wealth management clients. This means that the bank is increasing relevant allocations on its own balance sheet while also promoting product distribution and trading services for clients.
Insiders reported this week that UBS is evaluating the provision of cryptocurrency trading for private banking clients in Switzerland. Initially, it may open trading for Bitcoin and Ethereum, with plans to consider expansion into the Asia-Pacific and U.S. markets later. However, the related implementation plan has not yet been finalized.
Institutional Holdings Continue to Expand
Despite the overall pressure on the crypto market over the past year, institutional participation in Bitcoin ETFs remains high. Reports indicate that in the first quarter of 2026, a total of 1,560 institutions held IBIT, with a combined holding value exceeding $27 billion.
Since the U.S. approved spot cryptocurrency ETFs in January 2024, the scale of such products has rapidly grown. Currently, U.S. cryptocurrency ETFs manage nearly $140 billion in assets, with BlackRock's IBIT still being one of the main products.
The report also mentioned that some hedge funds reduced their exposure to Bitcoin ETFs in the first quarter of 2026, but banks overall continue to increase their holdings. According to the data in the article, Bitcoin is currently priced at $63,433, having fallen more than 40% over the past year.
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