Crypto NewsBitcoinSignificant Development: 160-year-old Swiss Bank UBS Takes Giant Bitcoin Step

Significant Development: 160-year-old Swiss Bank UBS Takes Giant Bitcoin Step

UBS, one of Switzerland's important banks, announced that it has taken an important Bitcoin step in a document published to the SEC.

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UBS Group AG, a global investment bank and financial services firm based in Switzerland, announced that it has a significant stake in iShares Bitcoin Trust (IBIT).

The disclosure was made in a 13F filing with the U.S. Securities and Exchange Commission (SEC) and covers the first quarter of 2024. According to the filing, UBS Group AG owns 3,600 shares in IBIT through its various subsidiaries and institutional investment managers. Data obtained from Fintel shows that the value of its assets is $145,692 as of March 31, 2024, and its current value is $124,488.

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The relationship between UBS Group AG and BlackRock Inc is particularly notable. BlackRock is an institutional shareholder of UBS, holding approximately 5.01% of the total capital.

UBS CEO Sergio Ermotti touched upon the US economy in his recent statement. Ermotti said, “If inflation is not controlled, interest rates will not fall” and added:

“If there is one thing that worries me, it is that I fear not only the economic but also the social consequences if inflation does not fall.”

Recently, JPMorgan, the largest bank in the USA, announced in its statement that it owns Bitcoin Spot ETF shares.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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