According to CoinMeta, as reported by Coindesk, UBS significantly increased its exposure to iShares Bitcoin Trust ( IBIT ) in the second quarter. The notional position of bullish options it held increased from 80,000 shares to approximately 1.95 million shares, while the directly held IBIT shares rose from 364,371 to 407,890 shares. The notional exposure to bearish options decreased from 303,300 shares to 143,300 shares. Regulatory documents did not disclose the exercise price or expiration date of the options, nor did they explain the driving factors behind the transactions.