Swiss financial group UBS Group plans to offer high-net-worth clients access to cryptocurrencies. According to BNN Bloomberg, citing informed sources.
According to the publication, UBS is at an early stage of examining the issue. One possible option cited by sources was investments in digital assets via third-party instruments.
Sources say UBS will limit clients’ investment options due to the volatility of cryptocurrencies. They declined to reveal further details.
Earlier reports indicated Morgan Stanley’s plans to offer asset-managing clients access to Bitcoin-based investment funds. Later, the American bank did not rule out adding derivatives on the first cryptocurrency to several of its own funds.
In February 2021, The Bank of New York Mellon announced the addition a Bitcoin custody service.
In March it emerged that Goldman Sachs would offer digital-gold-based products.
In April, CoinDesk sources reported that JPMorgan Chase planned to launch a Bitcoin fund in the summer of 2021.
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