UBS is planning to offer cryptocurrency investment options to some private banking clients, according to a Bloomberg News report cited by Reuters. The proposed service would initially let select private banking clients in Switzerland buy and sell bitcoin and ether, with a possible expansion later to the Asia-Pacific region and the United States, the report said.
The Swiss bank is currently selecting partners for the planned crypto offering, according to the report. Reuters said it could not independently verify the report and that UBS did not immediately respond to a request for comment.
How the UBS offering may work
People familiar with the matter told Bloomberg News that UBS has been discussing a crypto initiative for months and is still weighing how to proceed. The report said UBS is choosing partners as part of the preparation for the offering.
The initial proposal would allow some private bank clients in Switzerland to trade bitcoin and ether, according to the report cited by Reuters. A separate report from Investing.com also described the plan as allowing select private banking clients in Switzerland to trade Bitcoin and Ether.
Where it could roll out next
After a Switzerland launch, the service could later be expanded to markets including Asia-Pacific and the United States, according to the Bloomberg report cited by Reuters. Bloomberg also reported that the crypto investing access would be for some private banking clients and would mark a significant step into digital assets for UBS.
Both Reuters’ summary of the Bloomberg report and Investing.com’s write-up emphasized that the plan, as described, has not been finalized. Bloomberg said UBS has not made a final decision on how to proceed.
Why UBS is looking at crypto now
The Bloomberg report cited by Reuters said UBS’s increased focus on cryptocurrencies is partly a response to rising demand for digital assets from wealthy clients. Reuters also framed the potential UBS move as part of broader institutional adoption of digital assets under U.S. President Donald Trump, who has pledged to make the United States the “crypto capital of the world.”
Investing.com described UBS as the world’s largest wealth manager and said the bank managed about $4.7 trillion in wealth assets as of Sept. 30. Bloomberg likewise said UBS oversaw about $4.7 trillion in wealth assets as of Sept. 30.
Industry context and what’s confirmed
The Reuters report pointed to other large financial firms exploring or expanding crypto access, citing Bloomberg’s earlier reporting that JPMorgan Chase was considering offering cryptocurrency trading to institutional clients. Reuters also said Morgan Stanley had announced it would offer trading in crypto on its E*Trade platform from the first half of this year.
At this stage, the key confirmed details are limited to what people familiar with the matter told Bloomberg and what Reuters and other outlets reported from that account. Reuters stated it could not verify the report independently and UBS did not immediately comment, leaving the timing, final structure, and partner selections unresolved.
