UBS Planning Bitcoin, Ethereum Trading for Some Wealthy Clients: Bloomberg
UBS Group AG, the world’s largest wealth manager with $4.7 trillion in assets under management, plans to offer crypto investment options to select private banking clients, according to sources. The service will initially allow clients in Switzerland to buy and sell Bitcoin and Ethereum and may expand to the Asia-Pacific region. UBS’s focus remains on private banking and advisory services for high-net-worth individuals. The bank's influence increased after it acquired Credit Suisse in 2023, boosting its assets by $1.5 trillion. Switzerland remains a favorable environment for crypto businesses, attracting interest from both local and international firms, particularly after crypto-friendly banks in the U.S. were shut down in 2022. The Swiss National Bank has also increased its Bitcoin exposure. UBS is finalizing how the new crypto service will be implemented for clients.
