FINMA Clears Switzerland’s First Retail Bitcoin ETF
The approval covers a fund investing directly in Bitcoin, but FINMA did not identify an issuer or give a launch date.
Key takeaways
- FINMA approved Switzerland’s first Bitcoin ETF accessible to retail investors.
- The fund issuer and launch date were not disclosed.
Switzerland’s financial regulator approved the country’s first Bitcoin ETF accessible to retail investors, clearing a regulatory hurdle for a fund that invests directly in the cryptocurrency.
FINMA did not name the issuer or specify when the fund will launch. The regulator said multiple providers had submitted or announced Bitcoin ETF applications.
FINMA warned that Bitcoin investments carry market risks, including the possibility of losing a significant amount of invested capital because of cryptocurrency volatility. As of Tuesday afternoon, Bitcoin traded at $81,425, down 1.32% over 24 hours.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
