UBS Group increases Bitcoin ETF call options by 24-fold

A regulatory filing from UBS Group reveals a significant increase in call options related to BlackRock’s iShares Bitcoin Trust (IBIT) during the second quarter of 2026. According to the Form 13F filed with the U.S. Securities and Exchange Commission, the underlying shares for these call options rose to 1.95 million as of June 30, representing a 2,337.5% increase from the 80,000 shares reported on March 31.

In contrast, the number of shares underlying reported IBIT puts decreased by 52.75%, falling from 303,300 at the end of March to 143,300 by the end of June. While UBS’s non-option IBIT holdings also saw an 11.94% increase to 407,890 shares, the growth in call options significantly outpaced the growth in direct share holdings. The filing does not specify whether these positions were intended for hedging, market making, or speculative trading.