UBS Group AG has tripled its stake in BlackRock’s iShares Bitcoin Trust, bringing its total position to roughly $90 million across 2.5 million shares. For a bank that started its Bitcoin ETF journey with 3,600 shares worth less than $150,000 in early 2024, that is a remarkable change of posture.
From a rounding error to a real position
The trajectory tells the story more clearly than any single number. UBS entered the iShares Bitcoin Trust in Q1 2024 with a position valued somewhere between $125K and $146K. By December 31, 2025, it had grown that stake to 548,614 shares worth approximately $27.2 million. The bank then reported 364,000 shares valued at $14 million as of May 2026, before the latest filing revealed the jump to 2.5 million shares at $90 million.
UBS is not alone in this trade
Across the institutional landscape, 1,560 separate organizations collectively held IBIT shares worth more than $27 billion in Q1 2026. Some hedge funds pulled back on Bitcoin ETF exposure during Q1 2026, while banks as a group were increasing their positions.
