UBS Group AG is preparing a pilot programme that would allow selected private banking clients to trade bitcoin (CRYPTO:BTC) and ether (CRYPTO:ETH), signalling a cautious shift by a major global wealth manager.
The initiative reflects growing interest among high-net-worth individuals seeking exposure to digital assets as part of diversified portfolios.
According to a report by Bloomberg dated 23 January, the Swiss-based lender is assessing crypto trading options rather than launching a full public rollout.
The initial phase would focus on a limited group of private clients in Switzerland, with trading facilitated through approved third-party partners.
People familiar with the matter said the structure prioritises regulatory compliance, custody safeguards, and strict counterparty selection.
UBS is reportedly treating the project as an evaluation rather than a formal product launch, allowing flexibility as regulatory conditions evolve.
The bank is said to be monitoring demand closely to determine whether the service justifies broader deployment.
Future expansion could include Asia-Pacific markets and the United States, subject to supervisory approval and client appetite.
Wealth managers globally have been reassessing their stance on cryptocurrencies as institutional adoption continues to rise.
UBS’s approach highlights a preference for incremental testing rather than rapid expansion into digital asset trading.
Executives view the pilot as a way to validate infrastructure readiness and internal risk controls.
Client interest in bitcoin exposure has reportedly increased alongside the maturation of regulatory frameworks in key markets.
The move also reflects broader discussions within traditional finance about the role of blockchain technology.
At the World Economic Forum in Davos, UBS chief executive Sergio Ermotti commented on the bank’s technology outlook.
Blockchain is the future for traditional banking.
Sergio Ermotti said.
He added that “You will see a convergence” between distributed ledger technology and established financial systems.
UBS currently manages more than $5 trillion in assets, giving its strategic decisions significant weight across global markets.
Ermotti’s remarks build on views he expressed in 2018, when he argued blockchain would become essential for competitiveness.
At that time, he also said the technology could reduce costs and improve efficiency over a five- to ten-year horizon.
UBS historically distinguished between adopting blockchain infrastructure and offering cryptocurrencies as investment products.
The reported trading plans suggest that distinction may now be narrowing as client demand strengthens.
Analysts see the move as part of a broader trend of banks cautiously integrating digital assets into private wealth services.
UBS’s review indicates a gradual alignment between its blockchain ambitions and potential crypto offerings.
The pilot, if approved, would mark one of the most significant steps yet by a global wealth manager into crypto trading.
At the time of reporting, Bitcoin price was $89,520.47.