UBS Preparing to Offer Cryptocurrency Investments to Wealthy Clients: Report

Major Swiss bank UBS is preparing to offer its wealthy customers a chance to invest in digital assets, Bloomberg reports.

This way, UBS would join other major banks, including Goldman Sachs and Morgan Stanley, in offering exposure to the emerging digital asset class to its selected clients.

Given the high volatility in the crypto market, UBS is likely to offer investments of a very small portion of the clients’ total wealth. Another option is to allow investing through a third-party investment vehicle, Bloomberg report adds.

“We are monitoring the developments in the field of digital assets closely,” UBS said in a statement.

“Importantly, we are most interested in the technology which underpins digital assets, namely the distributed ledger technology.”

This news comes in times when the crypto market trades near the record highs with the world’s second-largest cryptocurrency Ethereum hitting fresh all-time highs this morning.

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