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

by Tanaya Macheel /

May 10, 2021 10:16 am

Source: Shutterstock

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

latest

Newsletter

The Breakdown

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Digital Asset Summit 2025

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

buy tickets learn more

recent research

Research

Exponent: Onchain Interest Markets

We believe that Exponent is best positioned to dominate the Solana yield market – the fastest-growing sector in the ecosystem – with topline liquidity increasing at an annualized rate of nearly 600%. The founding team (ex-Squads, Kamino, Solana Foundation) cares deeply about product, security, design, and user experience and understands the foundation for building a great protocol. The team’s deep ties in Solana DeFi also present a significant strategic advantage, as evidenced by Exponent PTs being onboarded as collateral on Kamino, Drift, and Loopscale before its main competitor, RateX. In this regard, we view PT integrations in money markets as the most compelling avenue for Exponent to expand its market share and own its vertical.

by Carlos Gonzalez Campo