UBS, a leading banking institution based in Zürich, is set to allow certain clients to trade bitcoin ETFs, albeit under specific conditions, as revealed by an anonymous source close to the bank. The stipulations include a prohibition on UBS soliciting the trades, and a restriction preventing accounts with a lower risk tolerance from purchasing them. A spokesperson for UBS, however, declined to comment on the matter.
On the other hand, Citigroup, the New York-based banking powerhouse, is already providing its institutional clients with access to the recently approved Bitcoin ETFs, from both an execution and asset servicing standpoint. This was confirmed by a spokesperson for the bank in a statement to CoinDesk on Thursday. Furthermore, the bank is also in the process of evaluating these products for its individual Wealth clients.
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| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇨🇭 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 1 |
| People | None |
| Companies | UBS, CoinDesk, Citigroup |
| Currencies | Bitcoin |
| Securities | None |
