Switzerland approves first spot Bitcoin ETF for retail investors
BIT Asset Management’s Bitcoin Fund ETF is expected to begin trading on SIX Swiss Exchange in November, with its public offering restricted to Switzerland.
BIT Asset Management’s Bitcoin Fund ETF is expected to begin trading on SIX Swiss Exchange in November, with its public offering restricted to Switzerland.
Switzerland’s financial regulator FINMA has approved the first Swiss-law exchange-traded fund allowing retail investors to gain direct exposure to Bitcoin.
On Thursday, BIT Asset Management said its Bitcoin Fund ETF (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.
The Bitcoin Fund ETF is instead a Swiss collective investment scheme, where assets are held separately from those of the fund management company and are “ring-fenced” for investors, it said.