Switzerland’s financial regulator FINMA approved the first Swiss-law exchange-traded fund that holds only Bitcoin and gives retail investors direct exposure to it. BIT Asset Management said its Bitcoin Fund ETF is expected to start trading on SIX Swiss Exchange in November; it has not started trading yet. The fund is approved for public offering only in Switzerland.
The fund is classified as an “other fund for alternative investments” with particular risk. FINMA warned that Bitcoin remains highly volatile even through an approved ETF.
