UBS to offer Bitcoin and Ethereum trading to Swiss retail in 2026

UBS began offering direct trading in Bitcoin and Ethereum to select private banking clients in January 2026 and plans to extend the service to retail investors across Switzerland before the end of 2026.

Switzerland now hosts about 20 banks that offer crypto trading or custody, a tally that exceeds recent counts for the United States and Germany. Earlier launches by Zürcher Kantonalbank and PostFinance in 2024 expanded crypto access to more than 2.5 million Swiss accounts.

Zürcher Kantonalbank reported that most crypto buyers were aged 30 to 50, predominantly male, and concentrated in private banking rather than retail customers. More than 40% of those clients had no investment portfolio with the bank before opening crypto custody. Peter Hubli, Head of Digital Assets at Zürcher Kantonalbank, observed: “This is probably the biggest surprise of this launch. We expected, like many others, to attract a very young clientele. That’s not the case at all.”

Some Swiss banks already report material revenue from digital assets. Maerki Baumann says more than 20% of its profit is linked to digital-asset activity. Swissquote reports crypto accounts for roughly 10% of its total revenue. Arab Bank Switzerland attributes about 5% of assets under management and 7% of net income to crypto. In its first year, PostFinance opened 36,000 crypto custody accounts and processed more than 565,000 transactions.

Institutional demand appears to be rising. A January 2026 survey of more than 350 institutional investors, including asset managers, family offices and private banks, found 73% plan to increase digital-asset allocations in the coming year and 84% reported interest in or use of stablecoins. Respondents listed custody security and regulatory clarity as their top concerns.

Domestic legal and infrastructure developments have supported bank-led crypto services. Switzerland’s 2021 Distributed Ledger Technology Act provides a legal framework for token activities, and custody firms offering bank-grade solutions operate in the market.

Regulatory changes are scheduled that will affect reporting and licensing. The OECD’s Crypto-Asset Reporting Framework takes effect on January 1, 2027, expanding automatic exchange of tax information for crypto holdings. The Swiss Financial Market Supervisory Authority has proposed licensing revisions following a public consultation that closed in February 2026, with several draft provisions resembling elements of the European markets framework for crypto. Ilya Volkov, a board member of the Crypto Valley Association, warned against “regulatory micromanagement” that could reduce regulatory flexibility.

UBS’s planned retail rollout will add another large bank to Switzerland’s list of institutions offering crypto services as the sector adapts to new reporting rules and potential licensing changes.