UBS Jumps on Bitcoin Bandwagon

UBS would join its banking counterparts in the US, which are also looking to meet new and growing client demand for cryptocurrency exposure

article-image

Source: Shutterstock

share

key takeaways

  • The Swiss firm is considering allowing clients to invest through third party investment vehicles
  • Last month UBS invested in a $65 million fundraise for ConsenSys

UBS is the latest bank seeking to respond to demand by wealthy clients for exposure to digital assets.

The Swiss firm is considering allowing clients to invest through third party investment vehicles, according to a Bloomberg report Monday morning, and to shield them from the volatility risk associated with bitcoin and other digital assets, UBS would limit clients’ exposure to a small portion of their total wealth.

Last month UBS invested in a $65 million fundraise for ConsenSys, a software development firm that builds cryptocurrency-related infrastructure and is working to bring decentralized finance (DeFi) to traditional finance.

UBS would join its banking counterparts in the US, which are also looking to meet new and growing client demand for cryptocurrency exposure, including Morgan Stanley, which offers three funds (two from Galaxy Digital and another joint effort between FS Investments and NYDIG) and has filed for bitcoin exposure in 12 more.

Tags

Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Avail.jpg

Research

Data publishing costs have historically been a bottleneck for rollups, and as more rollups launch, interoperability will continue to be a major challenge. Avail presents a potential solution to rollup fragmentation through its three products: Avail DA, Nexus, and Fusion, which together aim to unify the web3 experience.

article-image

Celo’s layer-2 will aim for a summer 2024 testnet

article-image

Like any new idea, restaking protocols will need a long break-in period to ensure their technical safety — but that’s doesn’t mean they’re not extremely promising

article-image

The Nakamoto upgrade will enhance transaction throughput and enable Bitcoin finality for layer-2 transactions

article-image

Miners may not have even noticed the halving took place over the weekend, with fees largely making up the difference so far

article-image

Research analyst Mark Palmer starts coverage of the bitcoin miner and puts its price target 50% higher than its current level

article-image

Runes, crypto taxes and Binance’s execs stuck in Nigeria