UBS Exploring Bitcoin Offerings for Wealthy Clients: Report
This news was brought to you by Phemex, our preferred Derivatives Partner. Share this article A Bloomberg report suggests that UBS may soon offer its wealthier clients exposure to digital assets. UBS Exploring Crypto Offerings UBS, the Swiss banking giant with $3.5 trillion in assets under management, is planning to offer crypto products to rich…
This news was brought to you by Phemex, our preferred Derivatives Partner.
Share this article
A Bloomberg report suggests that UBS may soon offer its wealthier clients exposure to digital assets.
UBS Exploring Crypto Offerings
UBS, the Swiss banking giant with $3.5 trillion in assets under management, is planning to offer crypto products to rich clients, Bloomberg reported Monday.
The report indicates that the firm is looking into alternative ways to offer exposure to digital assets. An unnamed source said that any crypto investment would represent a small allocation of a portfolio to hedge against price volatility and that they may include “third party investment vehicles.”
Though full details are yet to be confirmed, UBS wouldn’t be the first institutional player in the finance sector to look into crypto this year.
Most recently, Goldman Sachs began trading Bitcoin futures and non-deliverable forwards. In March, the Wall Street firm revealed that it was planning to offer a range of Bitcoin products for affluent clients. Alongside Goldman, Morgan Stanley, and BNY Mellon have pulled similar moves amid growing demand for crypto assets.
The global cryptocurrency market cap is worth over $2.5 trillion today, with Bitcoin accounting for about 42% of that figure. To date, Bitcoin has been the first crypto asset most banks are interested in. That could soon change, though: now that ETH is trading above $4,000 with several major protocol updates on the horizon, the second crypto has taken the spotlight away from BTC in recent weeks.
Once the likes of UBS catch on, ETH could be next to see a wave of institutional demand.
Disclosure: At the time of writing, the author of this feature owned ETH, FLI, and several other cryptocurrencies.
This news was brought to you by Phemex, our preferred Derivatives Partner.
Learn More
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
Goldman Sachs has reportedly made another clear step towards crypto adoption. Goldman Sachs Starts Crypto Trading A staff memo obtained by CNBC indicates that the banking giant has set up…
Bitcoin Is Coming to a US Bank Near You, Says NYDIG
Business
Banks can either provide crypto services to their clients or see them send their dollars to Coinbase, warns Yan Zhao, the president of crypto custody firm NYDIG. NYDIG Says Banks…
Ethereum Sets New Record High Above $4,000
Analysis
Thanks to its latest run, Ethereum is catching up with Bitcoin. ETH in Repricing Mode ETH crossed $4,000 early Monday and is currently trading at $4,104. The number two crypto…
What Are Non-Fungible Tokens (NFTs)?
Sponsored Phemex
Tokenization is well-suited for commodities like fiat currencies, gold, and physical land. A fungible asset’s representation on blockchain makes commodities tradable 24/7 via borderless and frictionless transactions. Fungible goods are…
BJ Mining has created a one-stop cloud mining platform for cryptocurrency investors with advanced artificial intelligence algorithms and global computing power scheduling. Without purchasing any hardware or operation and maintenance equipment, users can freely switch between the two major mainstream networks of Bitcoin (BTC) and Dogecoin (DOGE…
Published
15 hours ago
in
By
BJ Mining has created a one-stop cloud mining platform for cryptocurrency investors with advanced artificial intelligence algorithms and global computing power scheduling. Without purchasing any hardware or operation and maintenance equipment, users can freely switch between the two major mainstream networks of Bitcoin (BTC) and Dogecoin (DOGE… Read More
Bitcoin’s current trading range is all part of a consolidation move before a return above $110,000. Although the leading cryptocurrency has largely held above the $105,000 support zones in recent days, its rally has taken a hit in the past two weeks. Technical analysis of Bitcoin’s price action…
Published
15 hours ago
in
By
Bitcoin’s current trading range is all part of a consolidation move before a return above $110,000. Although the leading cryptocurrency has largely held above the $105,000 support zones in recent days, its rally has taken a hit in the past two weeks. Technical analysis of Bitcoin’s price action… Read More
Truth Social has filed for a Bitcoin and Ethereum ETF with the US SEC. The Truth Social Bitcoin and Ethereum ETF will offer combined exposure to BTC and ETH in one product. The move marks Truth Social’s bold entry into digital finance. Truth Social has officially entered the cryptocurrency investment space…
Published
15 hours ago
in
By
Truth Social has filed for a Bitcoin and Ethereum ETF with the US SEC. The Truth Social Bitcoin and Ethereum ETF will offer combined exposure to BTC and ETH in one product. The move marks Truth Social’s bold entry into digital finance. Truth Social has officially entered the cryptocurrency investment space… Read More
The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity. Binance has blamed whale exits and a liquidation cascade for the token crash. The upcoming June 19 token unlock may trigger further price drops. The cryptocurrency market has once again been rocked by a dramatic price collapse…
Published
15 hours ago
in
By
The Polyhedra Network (ZKJ) token has plunged 91% after abnormal on-chain activity. Binance has blamed whale exits and a liquidation cascade for the token crash. The upcoming June 19 token unlock may trigger further price drops. The cryptocurrency market has once again been rocked by a dramatic price collapse… Read More