Switzerland’s financial regulator FINMA announced on October 20, 2026, that it had approved the country’s first publicly offered exchange-traded fund that invests directly in Bitcoin under Swiss investment-fund law. Approval allows the fund to move toward launch; the source does not say it is trading. Europe already has Bitcoin-linked exchange-traded products, but this approval concerns a Swiss-law collective investment fund rather than those other products.
FINMA classifies the fund as an alternative investment fund carrying particular risks. It allowed an exception to certain risk-diversification requirements but warned that Bitcoin’s market risk remains very high. FINMA also says the asset manager and supervised institutions must address custody and operational risks and clearly disclose the fund’s exposure.
