Bloomberg has reported that UBS plans to offer direct investments in Bitcoin and Ether to some of its private banking clients, citing sources. The bank is currently talking to potential partners. The cryptocurrency offering will start in Switzerland and then expand to the United States and Asia. In 2021, Bloomberg reported that the bank was considering offering a similar service, but that was before the collapse of FTX.
The move would be significant given UBS is one of the world’s largest wealth managers, with $4.7 trillion in assets under management in that division, alongside another $2 trillion in its asset management division. The bank started offering crypto ETFs for…
