UBS Offers Direct Bitcoin, Ethereum Trading to Private Clients

UBS began offering direct spot trading in Bitcoin (BTC) and Ethereum (ETH) to eligible private banking clients in January 2026. The bank’s launch adds UBS to a group of Swiss lenders that have expanded crypto custody and trading to retail and private banking customers across the country.

The UBS service covers spot trades of BTC and ETH for qualified private banking clients. Several Swiss banks have integrated third-party custody providers to meet institutional security standards and allow traditional lenders to hold and trade digital assets under existing Swiss rules.

Zürcher Kantonalbank and PostFinance opened wider crypto access in 2024, a rollout that gave crypto services to more than 2.5 million Swiss accounts. Switzerland now lists about 20 banks offering crypto services, compared with roughly 15 in the United States and about 12 in Germany.

Peter Hubli, head of digital assets at Zürcher Kantonalbank, noted that the bank’s typical crypto buyer falls between ages 30 and 50, is mostly male and is concentrated in private banking rather than retail. He added that more than 40% of those clients had not held an investment portfolio at the bank before opening crypto custody.

Swiss banks report measurable revenue from digital assets. One private bank reported more than 20% of profit tied to digital-asset activity. An online broker estimated crypto-related business at roughly 10% of total revenue. Another private bank reported crypto assets at about 5% of assets under management but contributing about 7% of net income. PostFinance said it opened 36,000 crypto custody accounts and processed more than 565,000 transactions in its first year after launch.

A January 2026 survey of more than 350 institutional investors, including asset managers, family offices and private banks, found that 73% plan to increase allocations to digital assets this year and 84% reported interest in or planned use of stablecoins. The survey identified custody security and regulatory clarity as the top concerns for further crypto exposure.

Swiss law and infrastructure provide a legal framework for custody and tokenized assets. The 2021 Distributed Ledger Technology Act created a legal basis for tokenization and custody, and domestic custody providers now offer bank-grade safekeeping services.

International and domestic regulatory changes are scheduled in the near term. An international Crypto-Asset Reporting Framework takes effect on January 1, 2027, increasing tax reporting for cross-border crypto holdings. The national financial regulator completed a public consultation in February 2026 on a license overhaul that proposes new rules for custody and stablecoins, with several provisions that mirror parts of the EU’s Markets in Crypto-Assets framework.

Ilya Volkov, a board member of the Crypto Valley Association, warned that “regulatory micromanagement could erode the country’s pragmatic edge.”

Switzerland currently lists about 20 banks offering crypto services, the United States about 15 and Germany about 12. The new reporting rules and the outcomes of the national consultation are scheduled to take effect in the coming year.