1 month ago
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Key Takeaways
- UBS raised direct IBIT holdings by 11.9%.
- Call exposure surged more than 23-fold.
- Put exposure fell roughly 53%.
- The viral 230% figure mixes different instruments.
According to a Form 13F filed with the U.S. Securities and Exchange Commission on August 13, UBS Group reported 407,890 shares of the iShares Bitcoin Trust ETF (IBIT) as of June 30.
That was up from 364,371 shares at the end of March, an increase of 11.9%.
Its options positions changed far more dramatically. Reported IBIT calls jumped from exposure equivalent to 80,000 underlying shares in March to 1.95 million shares in June, an increase of roughly 2,338%.
Put exposure moved the other way, falling from 303,300 to 143,300 underlying shares, or about 53%.
Why the 230% and $90 Million Headlines Are Misleading
Claims that UBS increased its “spot Bitcoin ETF ...
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