It will be important to watch how UBS navigates regulatory developments while scaling its digital asset offerings, as this could set a precedent for other global banks considering similar moves. What do you think of this move by UBS?

UBS to let wealthy clients trade bitcoin and ether in digital asset push
UBS, which oversees $6.6 trillion in assets under management, plans to allow select wealthy clients to trade bitcoin and ether as part of a broader expansion into digital assets, according to a Bloomberg report citing people familiar with the matter.
The move reflects rising demand from high-net-worth clients and comes as UBS evaluates potential partners for its crypto offering while closely monitoring regulatory developments, market trends, and risk controls.
A UBS spokesperson said the bank actively tracks developments in digital assets and explores initiatives aligned with client needs, regulatory changes, and prudent risk management. The spokesperson added that UBS recognizes the importance of distributed ledger technology such as blockchain, which underpins digital assets.
UBS has historically taken a cautious stance on cryptocurrencies but now appears to be responding to competitive pressure from Wall Street peers such as JPMorgan and Morgan Stanley, which have expanded their digital asset services amid a more favorable regulatory environment in the U.S.
The Swiss banking giant has already taken several steps in the sector. In November 2023, UBS enabled wealthy clients in Hong Kong to trade crypto-linked ETFs. Late last year, the bank completed its first onchain redemption of a tokenized fund using Chainlink’s Digital Transfer Agent. UBS has also tested interbank payments on Ethereum in collaboration with crypto-focused bank Sygnum and PostFinance, a subsidiary of the Swiss Post.