Switzerland Spot Bitcoin ETF Issuer Named as BIT Asset Management

TLDR FINMA approved Switzerland’s first spot Bitcoin ETF for retail investors on Tuesday. BIT Asset Management said Thursday that its Bitcoin Fund ETF is expected to start trading on SIX Swiss Exchange in November. The fund holds Bitcoin directly and is approved for public offering in Switzerland only. It is set up as a Swiss collective investment scheme, with investor assets kept separate from the fund manager. FINMA said other providers have also applied, and warned that Bitcoin remains highly volatile. Switzerland’s first spot Bitcoin exchange-traded fund for retail investors is expected to begin trading next month.