BIT Asset Management Receives FINMA Approval for Switzerland's First Spot Bitcoin ETF
BIT Asset Management AG has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to launch the Bitcoin Fund ETF (Ticker: BBIT). This marks the first exchange-traded fund in Switzerland to invest directly in bitcoin, making it currently the only spot bitcoin ETF available in Europe. Unlike existing European exchange-traded products (ETPs) that function as debt instruments, this fund is structured as a Swiss collective investment scheme with ring-fenced assets. The fund is designed for both retail and qualified investors in Switzerland and is expected to begin trading on the SIX Swiss Exchange in November 2026. By utilizing a direct ownership model rather than futures or derivatives, the ETF aims to provide mainstream exposure through ordinary brokerage accounts while benefiting from Swiss regulatory oversight and independent custody.
Tickers: $BLK
Topics: Asset Management Bitcoin Cryptocurrency ETF Regulatory Approval
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