Ishares Bitcoin Trust

UBS reported a sharp quarterly increase in call option exposure linked to BlackRock’s iShares Bitcoin Trust, with calls representing 1.95 million underlying shares as of June 30. The Swiss banking group also increased direct IBIT holdings while reducing put option exposure during the quarter.

Tudor Investment increased its direct holding in BlackRock’s spot bitcoin ETF in the second quarter, even as its options positioning shifted sharply. The move keeps the firm’s IBIT exposure far below its late 2024 peak, underscoring a more measured approach to bitcoin-linked securities.