UBS,
the
Zürich-based
banking
giant,
will
let
some
clients
who
desire
to
trade
bitcoin
ETFs
do
so,
subject
to
some
conditions,
according
to
a
person
familiar
with
the
matter.
The
conditions,
according
to
the
person
close
to
UBS
who
asked
to
not
be
named,
include:
UBS
cannot
solicit
the
trades
and
accounts
with
a
lower
risk
tolerance
won’t
be
able
to
buy
them.
A
UBS
spokesperson
declined
to
comment.
Citigroup,
meanwhile,
“currently
provides
our
institutional
clients
with
access
to
the
recently
approved
Bitcoin
ETFs
from
an
execution
and
asset
servicing
perspective,”
a
spokesperson
told
CoinDesk
Thursday.
The
New
York-based
global
bank
is
“evaluating
the
products
for
individual
Wealth
clients.”
Bitcoin
ETFs
debuted
to
enormous
excitement
on
Thursday,
with
billions
of
dollars
worth
traded
on
the
first
day
they
were
available.
Vanguard,
the
large
U.S.-based
investment
firm,
said
Thursday
it
would
not
let
customers
trade
them.
There
were
unconfirmed
rumors
earlier
in
the
day
that
UBS
and
Citi
might
join
Vanguard
in
not
offering
them.
Some
of
the
largest
names
in
finance
are
offering
bitcoin
ETFs,
including
BlackRock,
Fidelity
and
Invesco.
And
Charles
Schwab,
the
large
U.S.
brokerage,
confirmed
to
CoinDesk
on
Thursday
that
it
will
let
clients
trade
them.
Optimists
believe
bitcoin
ETFs
will
dramatically
broaden
the
investor
base
for
bitcoin,
since
buying
ETFs
is
easier
than
purchasing
bitcoin
itself.
UPDATE
(Jan.
1,
00:05
UTC):
Adds
details
about
Citi
throughout.