UBS Considers Crypto Investments for Top Private Clients: Bloomberg

• UBS would initially offer bitcoin and ether trading to select Swiss private banking clients, with potential later expansion to Asia-Pacific and U.S. markets
• The initiative responds to increasing demand for digital assets from wealthy clients and aligns with President Trump's pledge to make America the 'crypto capital of the world'
• Other major institutions are making similar moves: JPMorgan Chase is considering offering crypto to institutional clients, while Morgan Stanley plans to enable crypto spot trading on E*Trade starting first half of this year

Summary

UBS Considers Crypto Investments for Top Private Clients

UBS is planning to offer cryptocurrency investment options to select private banking clients, according to a Bloomberg News report citing unnamed sources. The Swiss banking giant is currently selecting partners for the proposed crypto offering.

Key Details:

• Initially, the service will be available to select clients of UBS's private bank in Switzerland
• Clients will be able to buy and sell bitcoin and ether
• The service may later expand to Asia-Pacific and the United States
• The move is driven by rising demand for digital assets from wealthy clients

Market Context:

UBS's entry follows similar moves by major U.S. financial institutions. Last year, JPMorgan Chase reportedly considered offering cryptocurrency services to institutional clients, while Morgan Stanley announced plans to enable crypto trading on its E*Trade platform starting in the first half of 2025.

Industry Implications:

This development represents another significant step toward broader institutional adoption of digital assets. The timing aligns with the pro-crypto stance of U.S. President Donald Trump, who has pledged to make America the "crypto capital of the world."

Company Response:

UBS did not immediately respond to Reuters' request for comment, and the report could not be independently verified.

The move signals growing mainstream acceptance of cryptocurrencies among traditional wealth management firms, particularly as high-net-worth individuals increasingly seek exposure to digital assets.