The Swiss banking giant UBS has seen its exposure to call options tied to BlackRock’s iShares Bitcoin Trust (IBIT) increase by more than 24 times over the past quarter, according to its latest regulatory filing. As of June 30, UBS’s call option holdings now represent 1.95 million underlying shares, up from just 80,000 three months earlier. Meanwhile, UBS’s outright IBIT holdings have risen by about 12%. At the same time, the bank has decreased its put option exposure.
The increase in call options represents the right to purchase IBIT at a later date with an unspecified set price. Put options grant UBS the right but not the obligation to sell IBIT at a specified date and price.
Written by Oliver Grant
Markets Desk
