FINMA approves Switzerland's first retail spot Bitcoin ETF
Image: CointelegraphFINMA approved Switzerland's first retail exchange-traded fund that invests directly in Bitcoin. BIT Asset Management's Bitcoin Fund ETF, ticker BBIT, is expected to begin trading on SIX Swiss Exchange in November. The fund holds Bitcoin directly and is approved for public offering in Switzerland only. FINMA classified it as an other fund for alternative investments with particular risk.
Key points
- FINMA approved Switzerland's first retail exchange-traded fund that invests directly in Bitcoin.
- BIT Asset Management's Bitcoin Fund ETF, ticker BBIT, is expected to begin trading on SIX Swiss Exchange in November.
- FINMA classified the fund as an other fund for alternative investments with particular risk.
Why it matters
The approval gives retail investors in Switzerland a regulated fund that holds Bitcoin directly. It also marks the first time FINMA has approved a fund investing only in Bitcoin.
What's unclear
The exact launch date for BBIT on SIX Swiss Exchange is not specified, and the expected start is November.
Price context · BTC
At publication
$81,398.00
Now
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Change since
−0.24%
7 days · dashed line = publication
Sources · 2 publishers
Cointelegraph
Tier 1
Switzerland approves first spot Bitcoin ETF for retail investors
Coverage timeline
- First reported by Crypto Daily
- Also reported by Cointelegraph
- CryptoVideos brief published
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