UBS offers spot bitcoin ETFs to wealth management clients - report (NYSE:UBS)

01/13/2024 02:07
UBS offers spot bitcoin ETFs to wealth management clients - report (NYSE:UBS)

UBS Group is now allowing eligible wealth management clients to trade spot bitcoin exchange-traded funds, following SEC's approval of bitcoin ETFs.

Headquarter metal sign of UBS Swiss Investment bank in Melbourne Australia

EyeOfPaul/iStock Editorial via Getty Images

UBS Group (NYSE:UBS) is allowing eligible wealth management clients to trade spot bitcoin exchange-traded funds, the Wall Street Journal reported Friday, citing a person familiar with the matter.

On Wednesday, the U.S. Securities and Exchange Commission approved 11 ETFs that invest directly in bitcoin (BTC-USD), a move that's expected to broaden access to the highest-profile cryptocurrency. Such products started trading Thursday on U.S. exchanges.

Individual investors had been unable to access the ETFs on UBS's (UBS) trading platform, according to complaints on social media platform X, the Journal reported. The same issue holds at several other banks and brokerages, the newspaper added.

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