Switzerland's FINMA approved the country's first retail Bitcoin ETF (BBIT by BIT Asset Management) for November listing on SIX.
Regulation & Gov ·
Switzerland's financial regulator FINMA approved the country's first retail Bitcoin ETF, BBIT by BIT Asset Management, for listing on the SIX stock exchange in November. The product is structured as a Swiss fund rather than a UCITS or ETN, with FINMA waiving diversification rules and classifying it as an alternative investment fund. FINMA noted that Bitcoin investments through approved ETFs carry very high risk due to cryptocurrency price volatility and could result in considerable losses. Other applicants have already submitted or announced plans to launch additional cryptocurrency ETFs in the country.