UBS Group AG is considering a service that would let a select group of its private-banking clients trade Bitcoin and Ether, according to multiple reports published January 23. The proposal, driven by rising client demand and framed within UBS’s broader digital-asset strategy, would begin in Switzerland as the bank evaluates external partners to run the service.
Reports said the initial product set would focus on major cryptocurrencies — specifically Bitcoin (BTC) and Ethereum (ETH) — and would be made available first to a curated segment of UBS’s private-banking clients in Switzerland. UBS is vetting third-party partners to operationalize custody and trading, underscoring a cautious approach to infrastructure and counterparty risk.
Media coverage noted typical eligibility for UBS private banking starts at roughly $5,000,000 in investable assets, and broader discussions suggested future access could extend to accredited investors in some markets. UBS has signalled plans to expand the offering beyond Switzerland to the Asia-Pacific region and the United States as regulatory and commercial conditions allow.
Context, precedent and market impact
The bank ran a Digital Cash pilot in November 2024 to streamline cross-border payments, operates a Tokenize platform for on-chain issuance of financial products, and began offering crypto-linked ETFs to wealthy clients in Hong Kong in November 2023. UBS has also tested Layer‑2 infrastructure in past pilots, reflecting a methodical path from proofs of concept to client-facing services.
By moving to offer direct trading, UBS would become one of the largest traditional wealth managers to provide that access, a step that market participants say could accelerate institutional and private-wealth adoption. Competing global banks have been widening crypto services to high-net-worth and institutional clients, and UBS’s entry would heighten pressure on peers to match offerings or refine their own risk frameworks.
Investors are now turning their attention to UBS’s roll‑out timetable in Switzerland and the bank’s planned expansion into Asia‑Pacific and the U.S., which will serve as a practical test of demand, regulatory readiness and UBS’s ability to scale custody and compliance for high-net-worth clients.
