Summary:
The trend of giant banks developing crypto services is expanded beyond the US with Switzerland’s UBS Group AG. The institution plans to enable its wealthy customers exposure to digital asset investments later in the year. By citing people familiar with the matter, Bloomberg reported that UBS Group AG is in the “early stages of planning to offer wealthy customers digital currency investments.” The bank, based in Zurich, Switzerland, with over trillion in Assets Under Management, is looking into several alternatives for its crypto-related services. Nevertheless, the organization has warned about the infamous volatility of the digital asset sector and will enable its clients to allocate only a “very small portion” of their total wealth. One of the discussed options
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Jordan Lyanchev considers the following as important: AA News, Banks, BTCEUR, BTCGBP, btcusd, btcusdt, social, switzerland
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The trend of giant banks developing crypto services is expanded beyond the US with Switzerland’s UBS Group AG. The institution plans to enable its wealthy customers exposure to digital asset investments later in the year. By citing people familiar with the matter, Bloomberg reported that UBS Group AG is in the “early stages of planning to offer wealthy customers digital currency investments.” The bank, based in Zurich, Switzerland, with over trillion in Assets Under Management, is looking into several alternatives for its crypto-related services. Nevertheless, the organization has warned about the infamous volatility of the digital asset sector and will enable its clients to allocate only a “very small portion” of their total wealth. One of the discussed options
Topics:
Jordan Lyanchev considers the following as important: AA News, Banks, BTCEUR, BTCGBP, btcusd, btcusdt, social, switzerland
This could be interesting, too:
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The trend of giant banks developing crypto services is expanded beyond the US with Switzerland’s UBS Group AG. The institution plans to enable its wealthy customers exposure to digital asset investments later in the year.
- By citing people familiar with the matter, Bloomberg reported that UBS Group AG is in the “early stages of planning to offer wealthy customers digital currency investments.”
- The bank, based in Zurich, Switzerland, with over $1 trillion in Assets Under Management, is looking into several alternatives for its crypto-related services.
- Nevertheless, the organization has warned about the infamous volatility of the digital asset sector and will enable its clients to allocate only a “very small portion” of their total wealth.
- One of the discussed options suggested that institutional customers will be able to receive crypto exposure through third-party vehicles.
- Interestingly, Bloomberg’s report arrives just a few months after the financial service company working under the UBS Group AG hat – UBS Global Wealth Management – warned that the entire cryptocurrency sector could plummet to zero.
- Before UBS Group AG, numerous US-based banks initiated steps into enabling their clients to receive exposure to bitcoin and other digital assets.
- BNY Mellon, the oldest American bank, led the charge this year after releasing BTC custodial services. Shortly after, Morgan Stanley followed by filing to receive BTC exposure for up to 25% for 12 of its funds.
- Even the previous bashers, Goldman Sachs and JPMorgan, showed a pro-crypto approach. Goldman filed for a Bitcoin ETF, and its clients can now trade BTC derivatives, while JPM will reportedly launch an actively managed fund following the performance of the primary cryptocurrency.