FINMA approves Switzerland’s first Bitcoin ETF for retail investors

The Swiss regulator cited a growing appetite for cryptocurrency investments and said that multiple fund providers have submitted Bitcoin ETF applications. The Swiss Financial Market Supervisory Authority (FINMA) approved what it said is the country’s first Bitcoin exchange-traded fund (ETF) that invests directly in Bitcoin and is accessible to retail investors. The financial regulator’s Tuesday announcement cited a “growing interest” in cryptocurrency investments, particularly Bitcoin (BTC). While no fund issuer was identified by the regulator, it said multiple providers have submitted or announced Bitcoin ETF applications.