UBS considers crypto trading offering for some private clients: Bloomberg

Swiss banking powerhouse UBS Group AG is reportedly exploring plans to offer cryptocurrency trading services directly to some of its wealthy private clients, according to sources cited by Bloomberg. This development marks a significant, albeit cautious, shift in the bank’s traditionally skeptical posture toward digital assets.

The offering, if implemented, would initially be targeted at ultra-high-net-worth individuals and families who have expressed specific demand for exposure to major cryptocurrencies like Bitcoin and Ethereum. While UBS already provides clients with access to digital assets through various structured products and exchange-traded notes (ETNs), moving to direct trading would allow clients greater flexibility in managing their crypto holdings.

The consideration comes amid growing competition from rivals, particularly major U.S. financial institutions such as Goldman Sachs and JPMorgan Chase, which have already begun integrating cryptocurrency exposure into their wealth management offerings. Furthermore, the decision is driven by increasing client demand, especially from regions in Asia where interest in crypto investment is notably high.

Sources indicate that any potential service would be tightly managed, likely including strict limits on the percentage of a client’s overall portfolio that can be allocated to the volatile asset class. The bank has emphasized that the integration of digital asset services will proceed cautiously and in full compliance with relevant regulatory requirements.

Source: UBS considers crypto trading offering for some private clients: Bloomberg