BREAKING: Wall Street Giant UBS Group Discloses XRP Holdings Ahead of Crypto Trading Launch
Highlights
- UBS Group reveals investment in Grayscale XRP ETF, expanding crypto exposure.
- Wall street giant also revealed holding in Bitcoin, Ethereum, Dogecoin, Solana, and Polkadot.
- UBS plans to launch crypto trading and embracing tokenization.
UBS Group AG, the world’s largest wealth manager with $7 trillion in AUM, is deepening its crypto presence by investing in the Grayscale XRP ETF. This comes ahead of its plans to launch trading and push for tokenization.
UBS Group Reveals Holdings in Grayscale XRP ETF
UBS Group AG expanded its crypto exposure by investing in the Grayscale XRP ETF, according to the latest SEC filing. This indicates the wealth manager’s growing confidence in XRP amid huge demand from clients for crypto trading and tokenization.
UBS reported owning 317 shares of the Grayscale XRP ETF, worth about $8,248. The firm also holds 197,369 shares of the Volatility Shares XRP ETF, valued at roughly $1.5 million.
UBS Group is now among other major financial institutions like Goldman Sachs and Bank of America that are increasing their exposure to spot XRP ETFs. As CoinGape reported earlier, Farmers & Merchants Investments holds 2,374 shares of the Bitwise XRP ETF, valued at about $35,681.
UBS has also diversified its crypto portfolio by investing in Solana, Dogecoin, and Polkadot through exchange-traded funds, expanding beyond Bitcoin and Ethereum. Moreover, the company holds more than $1 million in shares of Trump family-linked American Bitcoin Corp.
Crypto Trading and Tokenization Plans
With growing regulatory clarity, UBS Group plans to start crypto trading this year. The company is looking at possible partners to first offer Bitcoin and Ethereum trading to select private banking clients in Switzerland.
UBS also plans to expand crypto trading to areas like Asia-Pacific and the United States. UBS Group recently reviewed XRP amid growing institutional interest.
UBS Group is moving forward with its tokenization plans by launching UBS Tokenize. This step follows a wider trend of traditional financial firms adopting crypto, fueled by client demand, ETF inflows, and the CLARITY Act hopes.
XRP is trading over 3% higher at $1.45 today, with prices ranging from $1.40 to $1.45 over the past 24 hours. Trading volume is up 30% as the overall crypto market recovers.
Also Read: Top Tokenized Real World Assets Tokens
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