Swiss bank UBS holds 3,600 shares in BlackRock’s iShares Bitcoin Trust, SEC filings show
Share this article
In a recent 13F filing with the Securities and Exchange Commission (SEC), UBS Group AG, the Switzerland-based global investment bank and financial services firm, disclosed a substantial holding in the iShares Bitcoin Trust (IBIT), an exchange-traded fund (ETF) managed by BlackRock Inc.
The filing, which covers the first quarter of 2024, reveals that UBS Group AG, through its various subsidiaries and institutional investment managers, holds 3,600 shares in IBIT. This investment highlights the growing interest of traditional financial institutions in the crypto space, particularly in Bitcoin. Data from Fintel shows that the holding is valued at $145,692 as of March 31, 2024, with a current value of $124,488.
The iShares Bitcoin Trust (IBIT) is an exchange-traded fund (ETF) that provides investors with exposure to Bitcoin, the world’s leading cryptocurrency. IBIT enables investors to access Bitcoin within a traditional brokerage account, making it more convenient and accessible compared to holding Bitcoin directly.
IBIT, managed by BlackRock, one of the world’s largest asset managers, offers investors a convenient way to gain exposure to Bitcoin without the complexities associated with holding the cryptocurrency directly, such as storage, security, and tax reporting.
As of May 10, 2024, IBIT had net assets of $16.6 billion and a net expense ratio of 0.12%.
The relationship between UBS Group AG and BlackRock Inc. is noteworthy, as BlackRock is one of the institutional shareholders of UBS, holding approximately 5.01% of total share capital, which represents a substantial percentage of ownership in the Swiss financial giant.
UBS Group AG’s investment in IBIT through its various segments, including Global Wealth Management, Personal and Corporate Banking, Asset Management, and Investment Bank, demonstrates the firm’s strategic interest in the crypto market and a potential avenue for portfolio diversification.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight – and oversight – of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
