UBS reports 1.95M IBIT call shares; puts fall 52.75%

UBS’s Form 13F, accepted by the U.S. Securities and Exchange Commission on Aug. 13, reported positions as of June 30. The filing showed shares underlying UBS’s call options on BlackRock’s iShares Bitcoin Trust ETF (IBIT) rose to 1.95 million at June 30, up from 80,000 at March 31. Shares underlying reported IBIT puts fell to 143,300 from 303,300.

Across five non-option IBIT rows, UBS listed 407,890 shares at June 30, an 11.94% increase from 364,371 at March 31, a gain of 43,519 shares. The call line increased by about 1.87 million underlying-share equivalents, a 2,337.5% rise that left the quarter-end call quantity more than 24 times the March level.

The filing reports option quantities as the number of underlying shares covered by the contracts. UBS assigned $64.9 million of market value to the call row and $4.8 million to the put row, compared with $13.6 million across the non-option share rows. Those dollar figures describe the market value of the underlying shares at quarter end and do not show option premiums, strike prices, expirations, or profit and loss.

Form 13F instructions allow an institutional manager to aggregate holdings across related managers and account types when the manager exercises investment discretion. The filing does not identify who benefited from the positions or the purpose behind them. The positions could reflect client mandates, hedging, market making, directional trading, or corporate treasury activity; the form provides no detail to distinguish among those possibilities.

The report covers holdings at the June 30 snapshot date and became public more than six weeks later. Any trading or adjustments after quarter-end are not reflected in the filing.