Swiss Bitcoin Fund Gets BBIT Ticker as U.S. Spot Bitcoin Funds Draw $1.08 Billion

BIT Asset Management named its newly approved Swiss product the Bitcoin Fund ETF, or BBIT, as U.S. spot Bitcoin (BTC) funds drew $1.08 billion in net inflows over three trading sessions through Oct. 21. The company expects BBIT to begin trading on SIX Swiss Exchange in November. The Swiss fund is separate from the U.S. products in the flow totals and had not started trading as of Oct. 22. The Swiss Financial Market Supervisory Authority (FINMA) approved the product Oct. 20 , making it Switzerland’s first exchange-traded public fund to invest directly in Bitcoin.